Initial focus will be on the Netherlands & Italy, where e-commerce penetration is expected to drive demand for last mile logistics space, extending Valor’s footprint outside of the UK, France and Germany.
Valor Real Estate Partners (“Valor”), Europe’s fastest growing last-mile real estate specialist, has appointed Matt Ganas as Senior Vice President. Matt, who will be based in London, will be responsible for accelerating Valor’s investment activity outside of its existing core markets, with an initial focus on the Netherlands and Italy.
Matt joins Valor from Brookfield, where he was Head of Transactions, with responsibility for pan-European logistics activity. Prior to this, he spent three years at Logicor as Director of Transactions, overseeing the Netherlands and Southern Europe markets. He brings over 10 years of real estate investment experience, having transacted on c. €4 billion of primarily logistics assets.
The investment case for last mile logistics in Europe remains compelling, underpinned by rising urban populations, incomes and internet usage, consumers’ growing desire for speed and convenience and increasing competition for land. According to Knight Frank, based on current forecasts for retail sales and online retail penetration rates, the top seven markets in Europe will require 3.5 million sqm of last-mile logistics space over the next five years .
Valor, formed in 2016, is a pan-European specialist in last-mile urban logistics which has amassed a c. €3bn portfolio in Europe. Having earlier this year announced a second JV to invest an additional €3 billion in the sector, Valor has continued to grow its investment team, which now totals 26 professionals.
Cane Napolitano, Head of Investment at Valor, commented:
“The expansion into the Dutch and Italian markets is a natural evolution given that the structural drivers underpinning the growth of the last mile logistics sector look highly attractive. With a track record of being first movers into supply constrained and highly fragmented markets, there is an opportunity to replicate our success to date, leveraging Matt’s deep local market knowledge in more nascent markets including Amsterdam, Rotterdam, Milan and Rome.”
Matt Ganas added:
“With the continued momentum in e-commerce and reconfiguration of global supply chains, Valor’s unique, research-based approach to sourcing, acquiring and asset managing in-fill logistics assets is well-suited to capitalise on opportunities across select major European cities, where rent and capital growth prospects look very favourable on a relative basis.”