Palmira launches third logistics fund with €650m volume

Pan-European logstics specialist Palmira Capital Partners has launched its third European core industrial fund, the Palmira European core logistics fund.

An open-end special fund, the pan-European vehicle is aiming at an equity volume of at least €350 mln. Palmira said it planned to invest around €650 mln and expected an annual distribution yield of 5%.

Palmira already has equity commitments totalling over €100 mln and, currently, three properties in Germany, the Netherlands and Poland are under investigation for acquisition.

The fund’s investment focus is on forward-looking logistics assets in core locations on the major transport axes in continental Europe, supplemented by properties for urban last-mile deliveries in large conurbations.

Since 2017, Palmira has invested over €1 bn in logistics and light industrial properties. According to the firm, all the investment vehicles issued by Palmira have significantly exceeded their targets since they were launched.

The firm's real estate assets currently under management have a total value of € 2.2 bn. Palmira has offices in seven European locations: Frankfurt am Main (head office), Vienna, Dusseldorf, Hamburg, Luxembourg, Madrid, Rotterdam and Warsaw.

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