Macquarie Asset Management (AM) has announced the final close of its first dedicated fund to the logistics real estate sector in Europe, with approximately €260 million ($435 million) in investor commitments.
The fund, first launched in 2021, focuses on opportunities in core and core-plus logistics investments across the region.
According to a statement from Macquarie AM this week, the firm’s 28 years of global experience in the logistics sector supports the fund’s strategy, which aims to provide investors with exposure to a diversified portfolio of income-generating assets.
The firm added it has received commitments from a diverse range of investors, including pension funds and insurance companies.
Macquarie confirmed that these commitments have been successfully deployed across a portfolio of 10 European properties, including logistics facilities in the Netherlands, Denmark, Poland, and Norway.
In May 2023, the asset manager announced the acquisition of two facilities in the Netherlands, a move that the firm said will continue to expand its presence in the European logistics real estate market.
This follows Macquarie’s acquisition of a logistics facility located in the Polish logistics hub of Szczecin in November 2022 and a City Flex logistics facility near Warsaw Airport in August last year.
Commenting on the announcement, Christian Goebel, co-head of Macquarie AM 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,” Mr Goebel continued.
Macquarie AM added that 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 continues, whilst indexed leases have also shown to provide an attractive inflation hedge in the current economic environment,” the firm said.
“Together with its specialist platforms, Macquarie Asset Management has invested more than €13 billion ($21.75 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.”