Panattoni has launched a pan-European fund aimed at investing, the company says, ‘in modern, sustainable and profitable logistics properties’. The Luxembourg-based Panattoni Income Fund, with an open-ended and permanent structure, plans to raise €300m in capital by 2026 and acquire €600m in assets, which will be developed and managed by Panattoni. The company's owners and management team will also participate as co-investors.
The fund seeks to generate sustainable income and capital appreciation for investors by acquiring stabilised assets and pre-lease developments with forward purchase options. The assets will have high sustainability ratings and will be located in countries where the company operates, including Central and Eastern Europe, the UK, Italy, Spain, Germany, Austria, the Netherlands and Scandinavia. Initially, they are being seeded with assets in Poland.
Krzysztof Dudek, formerly head of real estate investment management at TFI PZU, is the fund's managing director and will be responsible for operations, investment activity, portfolio management, fundraising and capital flows. Przemyslaw Konieczka, formerly fund manager and chief investment officer at TFI PZU, is the fund's executive director, overseeing strategic investment initiatives and portfolio management.
Krzysztof Dudek stresses that ‘It is an opportune moment to create Panattoni's first income fund. The post-Covid market correction has made yields on industrial and logistics real estate more attractive. The supply and demand dynamics in the sector remain very positive for investors’.
Investing in industrial and logistics real estate offers a compelling opportunity and attractive long-term returns, reinforced by structural factors,’ said Daniel Raemy, a member of the fund's Advisory Board. The market is currently experiencing a shortage of supply, coupled with a growing emphasis on ESG-compliant assets, which gives the fund a competitive advantage through access to premium projects.’
The launch of the Panattoni Income Fund adds to Panattoni's diversification into the European logistics and industrial sector, including the Newport Logistics Fund launched in April 2022 and the creation of Panattoni Investment Management last year.
