The Platform, which has a target GAV above €100 million, has agreed to forward fund the speculative development of five modern light industrial projects through a transaction with established sector developer Axtom.
The seed portfolio will comprise c. 28,400 sq ft of new, high-quality space located across Wattrelos (Lille), Colombier (Lyon), Epernon (Chartres), Brignoles (Marseille) and Saint-Herblain (Nantes).
Currently under construction, the schemes are expected to be delivered between Q4 2022 and 2023 and have been financed through the provision of a green loan from HSBC Continental Europe, with all the assets expected to achieve BREEAM Very Good certification through the use of high-performance building materials and renewable energy sources. The loan also benefits from a dedicated ‘Green Framework’, which Ethifinance, an ESG rating agency, has independently verified.
Europa Capital has a long track record of generating attractive returns for investors through investment into the urban light industrial and logistics sector on behalf of its value add and core strategies. In total, Europa Capital has acquired 93 buildings in the sector for a total of €674 million since 2018.
This latest investment increases the size of Europa Capital’s current portfolio of light industrial and logistics assets to c. 815,000 sq m across a diverse range of geographies including the UK, France, Germany, the Netherlands, Czech Republic, Hungary and Poland.
