A new joint venture between Europi Property Group and Incus Capital has been established to transform Ecologis into a premier logistics platform across Iberia. Both firms have committed fresh capital and resources to grow the company which was originally launched by Europi at the end of 2021. The partnership is designed to leverage their combined experience in the region to acquire modern facilities in key metropolitan areas. This expansion strategy specifically targets at least €100 million in further acquisitions including both new developments and standing Grade A assets.

Ecologis currently operates a 160k sqm portfolio consisting of 11 big box and last mile properties. Most of these assets are situated within the Lisbon metropolitan area and boast full occupancy. The current tenant list includes international third-party logistics firms, e-commerce businesses and major food distributors. Connectivity is a core feature of the portfolio as all sites are located near primary motorways. Sustainability is also a priority for the platform. The assets include rooftop solar panels and high energy efficiency ratings. Notably, the Adarse asset was the first logistics site in Portugal to receive a BREEAM In Use Excellent certification.

Jonas Fink, Group Investment Director of Europi Property Group, commented: “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. Since Ecologis was launched, the platform has delivered superior performance and grown to become one of the largest of its kind in Portugal. With a clear focus on operational value creation and sustainability as well as its unique financial backing, the platform is well positioned for its continued Iberian expansion.”

Alejandro Moya, Partner at Incus Capital, commented: “We are pleased to partner with Europi Property Group in the next phase of Ecologis’ growth. The platform has been built to a very high standard, with a strong portfolio, excellent locations and a clear commitment to sustainability. Europi has created a compelling foundation in Portugal, and we see significant potential to further scale Ecologis across both Portugal and Spain. This joint venture reflects our conviction in the Iberian logistics market and our strategy of partnering with best-in-class operators to create long-term value through high-quality, resilient assets.”

During the formation of the venture, Europi was advised by Morais Leitao, Ernst & Young and NewCycle. Incus Capital received advice from PLMJ, Savills and Deloitte. The venture will now focus on active asset management to maintain the platform’s high environmental standards while scaling its operations across the border into Spain.