Voyage, the last mile logistics platform launched by King Street Capital Management (King Street) and Bowery, today announced it now spans over 18ha across Germany, France and the Netherlands. This follows the recent acquisition of Vaihingen, Voyage’s latest asset in Germany.
The Vaihingen acquisition marks the second in the Stuttgart region since December 2022 and the eighth in Germany since April 2023. It follows Voyage’s debut acquisition in the Dutch market earlier this year.
“Voyage seeks to capitalize on the experience of the King Street and Bowery teams, leveraging sector expertise and skill managing logistics portfolios,” said Paul Brennan, Partner and Co-Head of Real Estate at King Street. “With a healthy pipeline, we look forward to continuing to scale Voyage to further develop its presence in top-tier last-mile logistics hubs.”
The platform aims to benefit from price correction in the sector and strong occupier demand in target markets. Voyage's nimble and disciplined approach will help identify acquisition opportunities for functional assets in liquid markets. Significant progress has been made in implementing asset management initiatives, including refurbishing warehouse space and installing LED lights to improve the platform’s carbon footprint. Voyage is also investing in capex to achieve a 60% reduction in energy consumption and enhance ESG credentials to extend the life cycle of its assets.
“As we see market sentiment improving, we are confident in the foundations of the Voyage platform and are excited about the future growth of the portfolio,” said Jean-Marie Caillon, CEO of Bowery. “We believe our international investment culture, together with our presence on the ground in each market, provides a strong and comprehensive resource to our investors.”
Image source - Pexels.
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