London-based investor Valor Real Estate Partners and US insurer AIG have launched a second joint venture equipped with more than £300m of firepower to invest in logistics and industrial real estate throughout Europe, according to a news release.
The Valor Industrial Partners 2 vehicle has already bought three modern warehouses comprising 12,540 sq.m. in the Dartford area of east London, boosting its Greater London portfolio to £150m. VIP2 will follow a similar value-add strategy to its predecessor, which was launched in October last year.
“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,” said Cane Napolitano, principal at Valor. Valor invests in logistics and industrial real estate across Europe.
It was established in July 2016 by Christian Jamison, the former CEO of UK-based logistics property group Delin, and Jeffrey Kelter and Robert Savage, the US-based founders of KTR Capital.