Realterm has closed its second pan-European value-add logistics fund, Realterm Europe Logistics Fund II (RELF II), raising more than €470m and significantly surpassing its €400m target. The success marks a bold signal of investor confidence in the underpenetrated industrial outdoor storage (IOS) segment and Europe’s growing transportation logistics sector.
RELF II stands out as the only pan-European fund series focused exclusively on transportation-advantaged IOS properties, in addition to transload and final-mile logistics facilities. A total of 17 institutional investors from Europe and the US backed the fund, including endowments, foundations, public and corporate pension funds, OCIOs, and funds of funds.
“This fund closing represents a tremendous success for our firm and recognition by our partners of the differentiation of our strategy and ability to execute in what has been an extremely challenging fundraising environment,” said Peter Lesburg, Managing Director and Global Head of Capital Markets at Realterm. “We are deeply grateful for the trust our limited partners have placed in Realterm, which enables us to expand our European platform further and capitalise on the significant opportunities we see in the European transportation logistics sector.”
More than half the fund’s capital has already been deployed, with investments in over 465,000 m² of transportation-advantaged logistics assets across the Netherlands, Belgium, the UK and France. Expansion plans are already underway in Germany, Spain and Italy, strategically targeting major freight corridors and infrastructure hubs.
RELF II's strategy aligns with long-term macro shifts in supply chain resilience, energy transition, and nearshoring trends. Notably, Realterm is positioning to benefit from low vacancy rates and rising rents in the IOS segment, which remains structurally undersupplied across core European markets. For developers and logistics players, the opportunity to co-invest or co-develop high-demand land-constrained assets with Realterm could prove invaluable.
“We believe this will prove to be a phenomenal fund vintage,” said Balazs Lados, Managing Director at Realterm and Fund Manager for RELF II. “Despite macro and geopolitical headwinds, our conviction remains solid in investing in transportation logistics real estate in primary and key secondary markets along pan-European transport corridors that are serviced by mission-critical infrastructure hubs across Western, Central and Southern Europe. We look forward to aggregating a high-quality portfolio on behalf of our new and returning limited partners.”
People mentioned:
Peter Lesburg – Managing Director and Global Head of Capital Markets, Realterm
Balazs Lados – Managing Director and Fund Manager, Realterm
Companies mentioned:
Realterm – Global investment manager focused on transportation real estate
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