PRODEA Investments S.A. has agreed to form a partnership with Invel Real Estate, through its flagship Invel Eudora Fund 2, and LGT Capital Partners to establish a major institutional logistics platform in Greece.

Pending final regulatory approval, the Fund and LGT Capital Partners will buy a 49 per cent stake in the platform for about €31 million. PRODEA will keep overall asset and development management duties to maintain operational continuity.

The current setup features 130,000 square metres of fully leased logistics facilities spread across key hubs in Attica. These existing properties generate steady income from a wide range of tenants.

A secured construction pipeline will add more than 140,000 square metres of space in phases through 2027. Sustainability remains central to the project, with over 70 per cent of new builds planned to hit LEED Gold standards alongside other green building features.

The partners also plan to acquire further assets across the country. Investor interest in Greek logistics has grown due to the nation’s position linking Europe, Asia and Africa, coupled with a lack of modern industrial space. This mismatch has increased rents and tightened yields, though Greek real estate continues to offer higher returns than mature Western European markets.

The three firms aim to grow the portfolio’s gross development value beyond €500 million.