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Jan 2022
aquila capital
Sole Financial Adviser
€ 330 million
Non-listed equity raise of European Logistics Fund

Aquila Capital

Sole Financial Adviser

Kempen & Co acted as Sole Financial Adviser to Aquila Capital in the equity capital raise of the Aquila Capital Southern European Logistics Fund

Transaction highlights

  • Aquila Capital Southern European Logistics und focuses on newbuilt, stable income-generating sustainable and ESG compliant logistics properties in Southern Europe
  • The fund has a target investment volume of EUR 1.5 billion
  • Institutional investors committed EUR 330 million equity in the fund’s first close
  • The fund initially aimed to raise EUR 250 million, yet based on strong demand the first closing volume was upsized to EUR 330 million 
  • Commitments have been made by a group of international institutional investors, including SCI Primonial Capimmo
  • The fund has a pipeline of 9 newbuilt assets located in Italy, Spain and Portugal
  • Kempen & Co acted as sole financial adviser on the transaction 

Fund description

  • Aquila Capital Southern European Logistics S.A. SICAV-RAIF (“ACSEL”) Fund launched with a committed equity volume of EUR 330 million
  • The strategy focusses on investments in a diversified portfolio of logistic real estate assets in Southern European countries including Italy, Spain and Portugal
  • The open-ended fund has a target investment volume (GAV) of EUR 1.5 billion with a maximum debt ratio (LTV) of 50 percent
  • ACSEL expects to deploy the capital of the first closing within 18 months 
  • ACSEL’s first investment has been approved, a 115,000 sqm logistic site in Azambuja, a strategic and core logistics hub in Lisbon’s metropolitan area

Kempen & Co Real Estate credentials

  • Kempen & Co has advised on more than EUR 125 billion real estate transactions across 15 different countries in Europe
  • This transaction underpins our leading position in the European logistics real estate sector, following successful transactions including CTP’s EUR 800 million public offer for Deutsche Industrie REIT announced in 2021, SEK 1.08 billion (listed) equity raise for Catena in 2021, EUR 480 million (listed) equity raises for Tritax EuroBox in 2021, the EUR 948 million Initial Public Offering of CTP in 2021, a EUR 200 million (listed) equity raise for WDP in 2021 and the EUR 100 million (non-listed) equity raise for the Gateway Fund of Cairn Real Estate in 2020

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