PRODEA Investments is entering into a partnership with Invel Real Estate, through its fund, Invel Eudora Fund 2 ("the Fund"), and LGT Capital Partners, an international alternative investment manager, with the aim of creating one of the leading institutional investment platforms in the logistics sector in Greece.
Upon completion of the required regulatory process, the Fund and LGT Capital Partners will acquire a 49% stake in PRODEA's logistics platform, for a total consideration of approximately €31 million.
The platform has a portfolio of existing properties and projects under development, in strategic locations at the main logistics hubs of Attica. The existing portfolio includes approximately 130,000 sq.m. of fully leased high-specification logistics spaces, ensuring a significant market presence and stable cash flows through a diversified base of reliable tenants.
At the same time, the platform's development plan includes projects with a total area of more than 140,000 sq.m., which are expected to be delivered gradually by the end of 2027. Sustainability lies at the core of the development strategy, with more than 70% of the spaces under development being designed in accordance with LEED Gold certification standards, while all properties will incorporate high sustainability standards.
The logistics sector in Greece has evolved into one of the most attractive investment opportunities in Europe, leveraging the country's strategic position at the crossroads of Europe, Asia and Africa.
At the same time, the limited availability of modern high-specification logistics spaces has strengthened demand, leading in recent years to rising rents, as well as yield compression. Despite this development, the Greek market continues to offer an attractive yield margin compared with the more mature markets of Western Europe.
The combination of strong growth prospects, limited supply and attractive valuations creates a particularly favorable environment for the further development of the sector. Leveraging the already secured development portfolio, the three partners plan to further strengthen the platform through new investments in the Greek logistics market.
PRODEA Investments will continue to manage the platform's development and portfolio, leveraging the experience and expertise of its team and ensuring the consistent implementation of the investment strategy.
The partnership with the Fund and LGT Capital Partners constitutes strong confirmation of the platform's quality, strategy and growth prospects.
The combination of institutional capital, experience and expertise, based on a shared long-term vision, creates the conditions for the development of the leading institutional logistics investment platform in Greece, with the aim for the value of the portfolio to exceed €500 million.