- €695 million in commitments from institutional investors, exceeding initial target of €500m
- Firm is one of the most active and best-established players in the European logistics market
London (25 March, 2021) — BentallGreenOak, a leading global real estate investment management advisor and provider of real estate services, has today announced the successful final close of its European Core+ Logistics Fund (the “Fund”), with a total of €695million in commitments from over 20 global institutional investors. The Fund had an initial target of €500m.
This is BentallGreenOak’s first fund entirely dedicated to the European logistics sector and will complement its existing Value Add strategy, which has invested over €2.4Bn in logistics assets since 2015.
The Fund will pursue opportunities across the logistics spectrum, including e-commerce, last mile, temperature controlled and distribution assets. It will benefit from BGO’s deep sector knowledge, on- the-ground presence across Europe and the UK, and hands on asset management approach to identify high quality assets in established logistics locations. The Fund will seek to add value through stablishing the income stream and filling vacancies.
Toby Phelps, Managing Partner and Head of European Equity at BentallGreenOak, said: “We are delighted with the support we have received from a broad range of investors who recognise that BGO is one of the most established logistics investors in Europe. Having acquired and managed over 5 million sqm (55 million sq ft) of logistics space in the last 6 years the team have an in-depth knowledge of the market, established tenant relationships and a track-record in delivering strong returns for our investors.”
Francesco Ostuni, Managing Partner and European Equity CIO at BentallGreenOak, added: “We have already deployed more than half of the Fund’s capital, demonstrating the team’s ability to source attractive investments in the logistics sector. We continue to see a wealth of opportunities to generate attractive risk-adjusted returns for our investors and look forward to continuing to execute on the Fund’s strategy.”
More than 50% of the Fund’s capital has already been deployed through the acquisition of 28 assets across France, Spain, Italy, the Netherlands, Germany, Sweden, and the UK.
BentallGreenOak is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $53 billion USD of assets under management (as of December 31, 2020) and expertise in the asset management of office, logistics, multi-residential, retail and hotel property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients.
In Europe, BentallGreenOak is a leading investment manager with over 50 professionals and $5.2 billion USD in AUM across debt and equity, with strategies spanning from Core to Value-Add and Development, with its own internalised operating capability. The firm has acquired or developed over 150 logistics assets comprising 5.1 million square meters (55 million square feet) since 2015. BentallGreenOak’s investment vehicles have assembled a large and diversified land bank across Europe, currently owning or controlling over 1,000 acres of land (capable of building over 23 million square feet of space) zoned for Logistics, Data Centers and Cold Storage.
BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.
For more information, please visit www.bentallgreenoak.com