BentallGreenOak closes European core-plus logistics fund at €695m

BentallGreenOak closes European core-plus logistics fund at €695m

BentallGreenOak has raised €695 million for its European core-plus logistics fund from over 20 global institutional investors, exceeding its initial target of €500 million.

This is BentallGreenOak’s first fund entirely dedicated to the European logistics sector and will complement its existing value add strategy, which has invested over €2.4bn in logistics assets since 2015.

The fund will pursue opportunities across the logistics spectrum, including e-commerce, last mile, temperature controlled and distribution assets. 

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“We are delighted with the support we have received from a broad range of investors who recognise that BGO is one of the most established logistics investors in Europe. Having acquired and managed over 5 million sqm (55 million sq ft) of logistics space in the last 6 years the team have an in-depth knowledge of the market, established tenant relationships and a track-record in delivering strong returns for our investors,” said Toby Phelps, Managing Partner and Head of European Equity at BentallGreenOak.

“We have already deployed more than half of the fund’s capital, demonstrating the team’s ability to source attractive investments in the logistics sector. We continue to see a wealth of opportunities to generate attractive risk-adjusted returns for our investors and look forward to continuing to execute on the Fund’s strategy,” Francesco Ostuni, Managing Partner and European Equity CIO at BentallGreenOak.

More than 50% of the fund’s capital has already been deployed through the acquisition of 28 assets across France, Spain, Italy, the Netherlands, Germany, Sweden, and the UK.