London 2 August 2023
Macquarie Asset Management today announced the final close of Macquarie European Logistics Real Estate Fund with approximately €260 million in investor commitments.
Macquarie Asset Management’s first dedicated fund to the logistics real estate sector in Europe was launched in 2021 to target opportunities in core and core-plus logistics investments across the region. Drawing on Macquarie Asset Management’s 28-years of global experience in the logistics sector, the strategy seeks to provide investors with exposure to a diversified portfolio of income generating assets.
The fund received commitments from a diverse range of investors, including pension funds and insurance companies. It has been successfully deployed across a portfolio of 10 European properties, including logistics facilities in the Netherlands, Denmark, Poland and Norway.
Christian Goebel, Co-Head of Macquarie Asset Management’s core/core-plus real estate strategy, said: “Reinforced by our expertise in the sector and extensive market research, this milestone reflects the confidence we have in the ongoing growth of the logistics sector in Europe. With long-term structural tailwinds, we are seeing attractive opportunities emerging within the market and would like to thank our new and existing investors for their support.”
The fundraise comes at a time when the logistics market in Europe continues to experience a significant supply and demand imbalance. With logistics occupancy rates remaining a 97 per cent average, accelerated rental growth in the market continues1, whilst indexed leases have also shown to provide an attractive inflation hedge in the current economic environment2.
Macquarie Asset Management’s global real estate team utilises its extensive network and capability across real estate investment and management to provide access to opportunities across the real estate spectrum. Together with its specialist platforms, Macquarie Asset Management has invested more than €13 billion in the logistics real estate sector globally, supporting the continued growth of third-party logistics, global and regional trade, near-shoring, and e-commerce.
1CBRE Research, February 2023, based on vacancy rates on c. 2.7%. https://news.cbre.co.uk/european-logistics-take-up-levels-finished-2022-just-6-below-record-levels-seen-in-2021/
2 MAM Pathways - Real Asset Outlook 2023, January 2023. https://mim.fgsfulfillment.com/download.aspx?sku=PATH-RA-RHCC
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