#Portugal #Lisbon #Europi #Incus Capital #Ecologis

Strategic Joint Venture in Iberian Logistics

In a significant development for the logistics sector, Europi Property Group has partnered with Incus Capital to create a formidable new player within the Iberian logistics market. This collaboration centers around Ecologis, a prominent logistics platform launched by Europi in late 2021, which has rapidly evolved into a key component of the Portuguese logistical landscape.

Europi and Incus Capital have aligned resources and capital to elevate Ecologis, envisioning a modern logistics platform that spans the major metropolitan areas across the Iberian Peninsula. Their shared goal is to build and expand upon the strong foundation laid by Ecologis, which boasts a portfolio encompassing 11 substantial big box and last-mile logistics assets, primarily concentrated in the Lisbon metropolitan region. The total area of these properties stands at an impressive 160,000 square meters, all fully leased to reputable international and domestic third-party logistics (3PL) companies, as well as leading food distributors and significant e-commerce entities.

Sustainability Focus

What sets Ecologis apart is its commitment to sustainability. The company's assets are equipped with advanced energy-efficient systems, including rooftop solar panels and high energy performance ratings. Notably, one of its properties, the Adarse asset, has achieved the prestigious BREEAM In Use Excellent certification, a testament to its environmentally conscious design and operational standards.

In this newly formed joint venture, Europi and Incus Capital’s strategy is aggressive. They are aiming to acquire over €100 million worth of additional high-quality, Grade A logistics assets in both Portugal and Spain. This expansion will not only include purchasing established properties but also encompass developmental opportunities that promise to meet the growing demand within the Iberian logistics sector. Their optimism is buoyed by robust market fundamentals, indicative of a thriving logistics environment.

Leadership Insights

Jonas Fink, Group Investment Director at Europi Property Group, expressed enthusiasm about this partnership. He noted, “We are very excited to partner with Incus Capital for the continued expansion of Ecologis. We're convinced that Incus Capital’s strong Iberian presence and track record will enable accelerated growth and help to create one of the leading Iberian logistics platforms.” Fink further emphasized the platform's performance since its inception and its strategic positioning for continued growth in the region.

In parallel, Alejandro Moya, a partner at Incus Capital, highlighted the potential to scale Ecologis further across both Portugal and Spain. He stated, “The platform has been built to a very high standard, with a strong portfolio, excellent locations, and a clear commitment to sustainability.” Moya's confidence underscores Incus Capital's strategy of forming alliances with top-notch operators to secure long-term value through high-quality, resilient logistic assets.

Expert Guidance

Both Europi and Incus Capital have surrounded themselves with a talented advisory team to facilitate this joint venture. Europi received guidance from legal advisors Morais Leitao, tax consultants Ernst & Young, and technical support from NewCycle. Meanwhile, Incus Capital was advised by PLMJ for legal matters, Savills for commercial and technical insights, and Deloitte for financial and tax planning.

Conclusion

This joint venture not only marks a pivotal moment for both companies but also for the Iberian logistics market, positioning them to cater to increasing demand with a strong focus on sustainability and operational excellence. As Ecologis continues to mature and expand, it is likely to play a significant role in enhancing the efficiency and sustainability of logistics services across the Iberian Peninsula, reflecting a broader trend of responsible and strategic investment in the logistics sector.