The Real Estate Investment Funds team advised Clarion Partners Europe Limited, the real estate investment fund manager specialising in logistics and industrial assets, on the closing of its core-plus, closed-end UK logistics fund which raised £427 million, exceeding its capital-raising target. Clarion secured the capital from a mix of European, North American, and Asian institutions, including investors in Clarion Partner Europe’s previous pan-European logistics strategies. The fund, with gearing, will provide c. £650 million of investable capital and will target investments in high-quality logistics real estate assets in established UK markets.
The fund is Clarion Partners Europe’s first to solely focus on the UK, a market it recently re-entered following a seven-year break. It will target a portfolio of high-quality, ESG-compliant logistics assets underpinned by strong rental growth fundamentals in established UK logistics hubs. With the flexibility to invest across the asset class, from last mile logistics to big box single tenant warehouses, the fund will target both best-in-class assets whilst also seeking to create value through investing in underperforming assets and selective development opportunities.
Clarion Partners Europe Limited is the European arm of Clarion Partners LLC and is focused on investing in logistics and industrial properties located across Germany, the Netherlands, France, Spain, Italy, UK and other European countries. Clarion Partners LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for over 40 years and has $79 billion in total assets under management.
The Goodwin team was led by Justin Cornelius and Adnan Bhaiji with assistance from Charlotte Haywood, Matthew Birchall, Sumiyya Ghauri, Alexandrine Armstrong-Cerfontaine, Jake Simons, Bastien Voisin, Michel de Bézenac, Florian Brandelong and Olha Polishchuk.
For additional details on the fund’s closing, please read the press release.