Greykite rolls out €1b European real estate platform

European real estate fund Greykite has launched Lagerhome, a new European industrial real estate platform with a €1 bln target over the next 24 months.

The platform starts with a 27-property, 94,400 m2 portfolio acquisition in Sweden, worth €250 ml. 
The portfolio is being acquired from commercial real estate company Regio and it will be managed with local partner and Nordic real estate company Broadgate Asset Management. 
With 90% occupancy and over 120 diverse tenants, the portfolio is situated near Stockholm and Gothenburg, two prime, easily accessible locations where dwindling industrial land supply drives rental growth. This scarcity, coupled with planned property improvements and active leasing efforts, presents significant opportunities to increase the portfolio's value.
Michael Abel, founder and CEO of Greykite, commented: “As we continue to construct a diversified portfolio within our high conviction areas of living, industrial and digital, launching a European MLI platform is a natural next step. The sector is displaying an attractive combination of growing tenant demand, and with replacement costs significantly above acquisition costs, an undersupply of well-connected, flexible space in Europe’s high growth urban centres will persist. Lagerhome aims to capitalise on these supportive fundamentals to quickly scale into one of Europe’s leading MLI portfolios.”
Dan Valenzano, senior partner of Greykite, added: “Launching Lagerhome with this initial acquisition is consistent with Greykite’s disciplined focus on scalable investment themes driven by resilient income growth, working alongside best-in-class JV partners like Broadgate. The ongoing macro volatility continues to present a highly attractive opportunity for proactive, well-funded managers with deep pan-European networks.”
This multi-let industrial strategy is Greykite's fifth platform launch and adds to its existing logistics investments across Western Europe. 
Lagerhome will focus on high-demand industrial areas in Sweden, the UK, and Germany, with further acquisitions already in the pipeline.