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BNP Paribas REIM announces that the “Eurozone Logistics Fund” (ELF) has reached its hardcap of EUR 300mn 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 EUR 100mn of new equity at the final close in June and has a well-diversified investor base. The current group of investors consists of pension funds, insurance companies and other institutional investors from 5 European countries (France, Italy, Spain, Belgium and Ireland), with an investment capacity of approx. €500mn.
“With a European portfolio in excess of EUR 1.5bn, BNP Paribas REIM is clearly recognised as a trusted partner for Logistics. Many Institutional investors in Western Europe have turned to the logistics sector to diversify their portfolio, looking for attractive yields and focusing on mega trends. E-commerce has been driving strong demand for logistics assets and has made it a particularly attractive asset class for institutions” comments Henri Romnicianu, Head of Institutional Clients, Europe.
“ELF is well positioned to capture the growth of the European Logistics market with an existing portfolio comprised of five properties in Germany, Netherlands & France, and an advanced pipeline in several countries. The fund will continue to seek modern logistics all across the Eurozone” comments Lucas Despretz, Fund Advisor of the Eurozone Logistics Fund.
ELF is a SICAV-SIF based in Luxembourg. This closed-end European Logistics fund, managed by BNP Paribas REIM Luxembourg, offers diversification in the Eurozone logistics sector to international institutional investors with a target distribution yield of 5.5% net p.a.