The pan-European real estate investment manager will invest in the logistics sector in partnership with White Star Real Estate.
Europa Capital has announced the launch of the Central European Logistics Platform on behalf of its latest value add fund, Europa Fund VI, 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,
The phased development of park22 will deliver a total of 61,400 sqm of Grade A logistics space across six units ranging from 6,452 sqm to 15,081 sqm, as well as office space, car parking, and an extensive landscaped green area. Amenities will also include 24-hour security and 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.
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 sqm across a diverse range of geographies inducing the UK, France, Germany, Hungary, and Poland.
