Bouwinvest Real Estate Investors and Clarion Partners Europe have teamed up with an unnamed institutional investor to deploy €300m (£274m) on European logistics.
The strategic venture will target build-to-core logistics opportunities with ground up development and investment in underperforming assets in continental Europe. It will develop assets valued between €20m to €100m.
The partners said they aim to take advantage of e-commerce growth in the wake of the Covid-19 pandemic.
It is the first venture for the new company Clarion Partners Europe, after New York firm Clarion Partners LLC took a majority stake in the business which was formerly named Gramercy Europe.
Alistair Calvert, chief executive of Clarion Partners Europe, said: “This is a strategy that is currently underserved in Europe. The Covid-19 pandemic has only served to accelerate demand for well-lto ocated, industrial product in established locations in response to changing consumer behaviour.”
Jasper Petit, senior portfolio manager for European investments at Bouwinvest, added: “The logistics sector is a growth market. It is well positioned for the coming decade, with strong demand from occupiers and investors driven by favourable megatrends.”
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