Palmira Capital Partners and funds affiliated with Apollo Global Management establish a €1bn pan-European logistics joint venture
€100m already invested in four transactions in Germany
Palmira Capital Partners, one of the leading independent full-service investment managers specialising in European logistics and industrial properties, has established a joint venture with the Apollo European Principal Finance III Fund (EPF III), managed by Apollo Global Management, LLC (together with its consolidated subsidiaries, Apollo; NYSE: APO), in order to seek to invest more than €1bn in modern logistics facilities across Europe.
The joint venture has already invested €100m in four transactions in Germany over the last three months including assets in Bergkamen, Berlin (2) and Osnabrück. Additional transactions in five countries with an aggregate value of more than €400m are currently in due diligence. The investment focus of the joint venture is core and future core assets in Germany, Benelux, Central and Eastern Europe, France and Iberia.
Alexander Hoff, founder and Managing Partner of Palmira Capital Partners, said: “The logistics market across Europe remains very strong with a constantly growing demand from occupiers. We have long been looking for an experienced partner like Apollo to execute a pan-European logistics investment strategy.”
Sebastian-Dominik Jais, Partner of Apollo European Principal Finance said, “We are looking forward to working together with the Palmira. We are excited about this joint venture, as we believe the combination of Palmira’s outstanding operating capabilities and entrepreneurial spirit will allow us to drive strong performance for our respective investors.”
Palmira Capital Partners is an independent real estate investment company specialising in industrial property that provides, investment management, asset management and property management services.