Valor Real Estate Partners has launched a second logistics venture with AIG Global Real Estate.

VIP2 will pursue a value-add strategy similar to predecessor VIP1 and invest and develop logistics and industrial assets in the UK and Europe.

VIP2 will have more than £300m of purchasing power.

It has already bought three warehouse units in Dartford, Kent, totalling 135,000 sq ft, which takes the value of Valor’s Greater London portfolio to approximately £150m.

Cane Napolitano, principal at Valor, said: “The acquisition of three warehouse facilities in Dartford is a great example of the attractive deals we are seeing in the UK market.

“Dartford has historically enjoyed high rental growth, which is expected to continue as a result of declining volumes of existing stock and increasing demand, particularly from occupiers being squeezed out of submarkets within the M25.”