Clifford Chance

Clifford Chance advises Partners Group on the joint venture with Vencom Property Partners to invest in and develop a portfolio of Swedish modern warehouse properties

International law firm Clifford Chance has advised long standing client Partners Group, a leading global private markets firm, acting on behalf of its clients, on the joint venture with Vencom Property Partners to invest in and develop a portfolio of modern warehouse properties in Sweden.

Alongside its operating partner Vencom Property Partners, Partners Group will develop warehouses that have a combined Net Leasable Area of around 50,000 sqm in strategic locations near major cities, with a further pipeline identified. Partners Group, together with Vencom Property Partners, plans to invest up to EUR 200 million of equity to scale the portfolio in the next two years.

Senior Real Estate Counsel Sarah Thomas who co-led the deal commented: "Logistics remain a hot asset class, particularly in the Nordics where there is an undersupply and this is an asset class where we have deep expertise both on a pan-European basis and in single jurisdictions. We were delighted to support Partners Group on their latest investment into warehousing which continues to expand their footprint into the Nordics and as always it was a pleasure to work with such a great team on this exciting project. "

Rahul Ghai, Co-Head Private Real Estate Europe, Partners Group, says: "This portfolio represents the latest warehouse and logistics investment that Partners Group has made in the Nordics. Our thematic research shows that high demand for warehouse assets and limited new supply is creating attractive opportunities in the region."

Johan Johansson, Private Real Estate, Partners Group, adds: "Our vision is to scale into a platform of modern, future-proof warehouses. We will focus on locations with strong logistics characteristics close to top Swedish cities, as well as dislocations within those markets."

The Clifford Chance team was co-led by Real Estate Partner and co-head of Global Real Estate Sector Alis Pay and Senior Real Estate Counsel Sarah Thomas and supported by Senior Associate Melissa Jones, Associate Zain Farook, Private Equity Adviser Natalia van der Laat and in Luxembourg Corporate Partner Katia Gauzes supported by Associates Megi Bllaca, Cristina Mudure and Senior Advisor Lauren Harris.

Mannheimer Swartling advised on all Swedish law aspects (including the acquisitions of the seed assets) and PWC advised on tax.