The British project developer Parkridge and the asset manager Morley Fund Management have set up the Parkridge European Distribution Fund for the development of large logistical parks in Central Europe.
In total the companies plan to develop 800,000 m², divided over approximately ten logistical parks in Poland, Hungary, Slovakia and the Czech Republic. The investment volume is a total of €200 million.
Four locations have already been bought, with a total size of 350,000 m². Five more locations have more or less been secured as well. Investors in the fund are project developer Parkridge and the three Aviva Life Funds managed by Morley.
Morley has a real estate portfolio under management in the UK of ₤12 billion. The operation in Central Europe will be led from the Parkridge office in Warsaw by a board consisting of Hans van Luijken (rental) and Piotr Michalski (construction).