Palmira Capital Partners (Palmira), one of Europe's leading investors and asset managers for logistics and corporate real estate, has made another investment for the European Core Logistics Fund (ECLF) with a logistics center in Ghent. This is ECLF‘s first acquisition in Belgium. The seller is MG Real Estate N.V. It was agreed not to disclose the purchase price.
The property, completed in 2022, is a state-of-the-art distribution center in the North Sea Port in Ghent. On a plot of around 160,795 square meters, the property has a rental area of around 75,050 square meters. The property is fully rented to the full-service logistics provider Eutraco NV.
Palmira received legal advice from Dentons and Altius and tax advice from E&Y. Technical support was provided by CBRE, while Nova Ambiente was responsible for environmental aspects. MG Real Estate is commercially advised by Savills.
The ECLF, designed as an open-ended special fund, places the investment focus on future-oriented logistics properties in core locations along the most important transport axes in continental Europe. Additions include objects for urban last-mile supply to the most important metropolitan areas.
