Verdion has announced a further closing of its Verdion European Logistics Fund 2 value-add fund, tripling its size.
CBRE Investment Management, on behalf of its Indirect Private Real Estate Division, has committed a further €150m, building on initial closings of €75m sourced exclusively from investors in the inaugural 2020 vintage of Verdion’s flagship VELF fund series.
VELF 2 centres on a value-add strategy to acquire and reposition under-capitalised and under-managed logistics properties in established locations across Northern Europe leveraging Verdion’s experienced in-house technical team. It has already acquired and completed its first asset – a €33.5m, DGNB Gold-certified distribution centre at Horsens within Denmark’s triangle region, pre-let to Danish ladieswear brand Zizzi.
Verdion’s first fund, VELF 1, reached final close in 2020, having raised €158m. It is fully invested and, together with debt, has deployed €310m on the acquisition and enhancement of eleven logistics assets across Germany, the Netherlands, Denmark and Czechia. A facility for UPS next to Prague Airport has been sold, and two assets in Germany and the Netherlands are being marketed for sale with business plans now complete.
Simon Walter, Executive Director – Investment Management, at Verdion, said: “This is a significant step forward for the fund, signalling continued confidence in our approach amidst challenging capital-raising conditions. We are now set to transact on a substantial pipeline of attractive acquisitions and leverage Verdion’s deep sector expertise, focus on technical innovation and vertically integrated team to deliver further high quality logistics assets with excellent ESG credentials.”
VELF 2 fundraising continues.
Written by Leon Goldwater for Europe Real Estate.
Image source - Verdion.
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