Macquarie has closed its first dedicated European logistics fund with approximately €260m (£223m) in investor commitments.
The Macquarie European Logistics Real Estate Fund was launched in 2021 to target core and core-plus logistics investment opportunities across the region.
The fund has received commitments from a diverse range of investors, including pension funds and insurance companies, and capital has been deployed across a portfolio of 10 European properties, including logistics facilities in the Netherlands, Denmark, Poland and Norway.
Christian Goebel, co-head of the core/core-plus real estate strategy, said: “This milestone reflects the confidence we have in the ongoing growth of the logistics sector in Europe. With long-term structural tailwinds, we are seeing attractive opportunities emerging within the market, and would like to thank our new and existing investors for their support.”
He pointed to the significant supply and demand imbalance across Europe, with logistics occupancy rates remaining at an average of 97%, while rents continue to climb.
Indexed leases have also proved a useful and attractive inflation hedge.
To date, Macquarie Asset Management has invested more than €13bn in the logistics real estate sector across the globe.
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