Verdion has announced an additional closing of its Verdion European Logistics Fund 2 value-add fund, tripling its size.
According to Verdion, CBRE Investment Management, on behalf of its Indirect Private Real Estate Division, has committed a further EUR 150 million, building on initial closings of EUR 75 million, sourced exclusively from investors in the inaugural 2020 vintage of Verdion’s flagship VELF fund series.
“VELF 2 centers on a value-add strategy to acquire and reposition under-capitalized and under-managed logistics properties in established locations across Northern Europe, leveraging Verdion’s experienced in-house technical team,” Verdion reports. “It has already acquired and completed its first asset – a EUR 33.5 million, DGNB Gold-certified distribution center at Horsens within Denmark’s triangle region, pre-let to Danish ladieswear brand Zizzi.”
Verdion’s first fund, VELF 1, reached final close in 2020, having raised EUR 158 million. It is fully invested and, together with debt, has deployed EUR 310 million on the acquisition and enhancement of eleven logistics assets across Germany, the Netherlands, Denmark and the Czech Republic. A facility for UPS next to Prague Airport has been sold, and two assets in Germany and the Netherlands are being marketed for sale with business plans now complete.
“This is a significant step forward for the fund, signaling continued confidence in our approach amidst challenging capital-raising conditions,” claimed Simon Walter, Executive Director – Investment Management at Verdion. “We are now set to transact on a substantial pipeline of attractive acquisitions and leverage Verdion’s deep sector expertise, focus on technical innovation and vertically integrated team to deliver further high quality logistics assets with excellent ESG credentials.”
VELF 2 fundraising continues.