Ecologis was launched by Europi at the end of 2021 and has grown to become a leading Portuguese logistics platform of 11 big box and last mile assets, primarily located in the Lisbon metropolitan area. The fully let 160k sqm portfolio features excellent connectivity, with all assets strategically located close to major motorways and metropolitan centres. Tenants include significant international and domestic 3PL companies, leading food distributors and e-commerce players. The portfolio holds strong sustainability credentials, including rooftop solar panels, high energy efficiency and its Adarse asset was the first logistics property in Portugal to achieve a BREEAM In Use Excellent certification.

The new joint venture’s expansion strategy is focused on acquiring at least €100m of additional best-in-class, Grade A logistics assets across Portugal and Spain, including development and high-quality standing asset opportunities, backed by its conviction in the Iberian logistics market with buoyant underlying fundamentals. Ecologis will continue its high focus on accretive asset management initiatives to create a further improved, modern high-quality logistics platform with excellent sustainability profile.

Europi was advised by Morais Leitao (legal), Ernst & Young (tax) and NewCycle (technical). Incus Capital was advised by PLMJ (legal), Savills (commercial and technical) and Deloitte (tax and financial).

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.”