Greykite has launched Lagerhome, a new European multi-let industrial (MLI) platform targeting €1bn of investments over the next 18-24 months, seeded with a 94,400 m² portfolio across Stockholm and Gothenburg in Sweden.
The strategic acquisition encompasses 27 properties in established industrial sub-markets around Sweden's two largest cities, with 55% of the lettable area located in Stockholm. The portfolio, currently 90% occupied with more than 120 tenants, has been acquired from Regio, a commercial real estate company backed by the Third Swedish National Pension Fund (AP3). Broadgate Asset Management, a leading Nordic real estate operating company, will manage the assets as a minority joint venture partner, aligning with Greykite's strategy of partnering with best-in-class local operators.
Michael Abel, Founder and CEO of Greykite, commented: "As we continue to construct a diversified portfolio within our high conviction areas of living, industrial and digital, launching a European MLI platform is a natural next step. The sector is displaying an attractive combination of growing tenant demand, and with replacement costs significantly above acquisition costs, an undersupply of well-connected, flexible space in Europe's high growth urban centres will persist. Lagerhome aims to capitalise on these supportive fundamentals to quickly scale into one of Europe's leading MLI portfolios."
Dan Valenzano, Senior Partner of Greykite, added: "Launching Lagerhome with this initial acquisition is consistent with Greykite's disciplined focus on scalable investment themes driven by resilient income growth, working alongside best-in-class JV partners like Broadgate. The ongoing macro volatility continues to present a highly attractive opportunity for proactive, well-funded managers with deep pan-European networks."
The transaction follows Greykite's formal launch and the establishment of the Greykite European Real Estate Fund I in March 2024. Beyond Sweden, the Lagerhome platform is targeting further investments in supply-constrained industrial sub-markets across the UK and Germany, with several opportunities already in exclusivity.
- Michael Abel, Founder and CEO, Greykite
- Dan Valenzano, Senior Partner, Greykite
- Greykite - Investment manager specialising in European real estate and corporate investments
- Regio - Swedish commercial real estate company and seller of the portfolio
- AP3 - Third Swedish National Pension Fund, backer of Regio
- Broadgate Asset Management - Nordic real estate operating company and minority JV partner
Get the latest real estate news and investment insights from Europe Real Estate - your trusted source since 1999. To receive daily or weekly updates. Sign up here!
