BNPP REIM : Capturing the growth of the European logistics market

Elisabeth Reyes
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BNPP REIM : Capturing the growth of the European logistics market

BNP Paribas REIM has announced that the "Eurozone Logistics Fund" (ELF) reached its 'hardcap' of €300m of equity commitments at the final investors closing in June 2019. The fund focuses on modern Logistics platforms in the key eurozone logistics hubs.

The fund was launched in July 2017 with additional closings concluded in 2018 and early 2019. The fund attracted €100m of new equity at the final close in June. The current group of investors consists of pension funds, insurance companies and other institutional investors from five European countries (France, Italy, Spain, Belgium and Ireland), with an investment capacity of approx. €500m.

Lucas Despretz, adviser to the fund, said: "ELF is well positioned to capture the growth of the European logistics market with an existing portfolio comprised of five properties in Germany, Netherlands and France, and an advanced pipeline in several countries. The fund will continue to seek modern logistics all across the eurozone."

ELF is a Sicav-Sif based in Luxembourg with a target distribution yield of 5.5% net annually.