Greykite European Real Estate Fund and affiliates have announced the formation of Silverdock, a €800m European logistics platform, following three significant off-market UK acquisitions that complement last year's pan-European portfolio purchase from Logicor.
The UK additions encompass approximately 371,600 m² across 13 properties, strengthening the Fund's footprint in critically undersupplied urban submarkets. The platform has partnered with Canmoor, a leading UK logistics operator, to manage the British assets, while Bowery will oversee operations in Continental Europe.
Silverdock now comprises more than 25 primarily single-tenant assets situated in key European distribution hubs, boasting 99% occupancy with a diverse tenant mix including e-commerce, third-party logistics, manufacturing and food distribution companies. The portfolio offers significant reversionary potential and is well-positioned to capitalise on the ongoing logistics space shortage across Europe.
What particularly stands out for investors is the platform's timing amid rising land values in European logistics corridors, with development sites near major transport arteries commanding premium prices that many competitors simply cannot justify. This strategic positioning allows Silverdock to leverage existing assets while competitors struggle with prohibitive land acquisition costs.
"Silverdock underscores our commitment to delivering best-in-class logistics assets across Europe's key markets, partnering with local market experts like Canmoor and Bowery which enhances our ability to unlock value through operational expertise," commented Michael Abel, Founder and CEO of Greykite. "The ongoing market dislocation we are seeing across Europe continues to restrict the pool of capital with the firepower and conviction to invest, and this relative hiatus, coupled with our ability to identify, and then successfully facilitate transactions with, pockets of motivated sellers, has enabled us to capture the next wave of logistics demand across Europe's most dynamic markets."
Dan Valenzano, Senior Partner of Greykite, added: "Silverdock's launch is the culmination of a targeted and proactive investment strategy focused on assembling institutional-grade logistics assets in structurally undersupplied locations. With Silverdock, we are not only aggregating scale, but also creating a unique platform with embedded growth, strategic optionality, and long-term relevance in the European logistics sector." Tom White, Director of Canmoor, stated: "We are delighted to be working with Greykite on the Silverdock logistics strategy in the UK. Canmoor has a strong track record of sourcing off-market deals and delivering high-quality asset management solutions for our partners, and the complimentary skillsets of Canmoor and Greykite positions us well to achieve strong outperformance from the portfolio."
People mentioned:
- Michael Abel - Founder and CEO of Greykite
- Dan Valenzano - Senior Partner of Greykite
- Tom White - Director of Canmoor
Companies mentioned:
- Greykite European Real Estate Fund - Investment fund
- Silverdock - European logistics platform
- Canmoor - UK logistics operator
- Bowery - European logistics operator
- Logicor - Previous portfolio owner
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