Europa Capital, the pan-European real estate investment manager, in partnership with White Star Real Estate, announces the launch of the Central European Logistics Platform (the “Platform”) on behalf of its latest value add fund, Europa Fund VI (the “Fund”), acquiring a prime 15.0 hectares site on which it will fund the development of park22, an urban logistics park in Budapest, Hungary.
The Platform, which has a target GAV of €150 million, will target standing logistics and urban warehousing assets and ground up development opportunities in strong locations, which interconnect Europe’s largest cities in the region including Budapest, Vienna and Bratislava.
The phased development of park22 will deliver a total of 61,400 sq m of Grade A logistics space across six units ranging from 6,452 sq m to 15,081 sq m, as well as office space, car parking and an extensive landscaped green area. Amenities will also include 24-hour security, access control and bicycle storage.
The scheme, which will target a BREEAM ‘very good’ rating, will feature LED lighting, energy use monitoring and EV charging stations. The building will also be constructed using timber and timber-based materials, whilst the surrounding green area will support biodiversity through the planting of new trees and the installation of bird and bat houses.
park22 will offer occupiers excellent connectivity via road, railway, bus and cycle paths, providing access to Hungary’s main international motorway network and the centre of Budapest in minutes by train. The Campona shopping centre and the Budatétény railway station are adjacent to the site, offering accessibility as well as restaurants, leisure and sports facilities.
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 78 buildings in the sector for a total of €547 million since 2018.
This latest investment increases Europa Capital’s logistics development pipeline to c. 526,300 sq m across a diverse range of geographies inducing the UK, France, Germany, Hungary and Poland.
Source : Europa Capital