TH Real Estate launches €400m European logistics vehicle – IP Real Estate
TH Real Estate has launched a second European logistics vehicle with an initial EUR200m to invest in the sector. The European Logistics Fund (ELOF), for the manager’s German clients, will seek low-risk assets. The fund will hold a portfolio worth EUR400m, with gearing in France, Spain, the Netherlands and Italy.
Pension funds, insurance firms and banks have backed the vehicle. Thorsten Kiel, head of logistics Europe for TH Real Estate, said: “This fund follows the success of our growing logistics platform. “It offers a compelling investment opportunity given that logistics space requirements are increasing in developing countries to adapt to the growth of middle-class households.”
Launched last year, TH Real Estate’s EUR360m Pan-European Logistics Venture has invested in seven assets in France, Germany, the Netherlands and Spain.
The ELOF fund will be managed by Tim Hennes, senior investment manager for European logistics.