Terryn, a joint venture between industrial real estate investment and asset management firm URBZ Capital and the investment management company NW1 Partners, is expanding into the German market. The specialised investment platform for Industrial Outdoor Storage (IOS).
The platform aims to consolidate the currently highly fragmented European IOS market into a scaled, institutional-grade platform and build a diversified portfolio of approximately €500 million, underpinned by integrated expertise, knowledge and services. An initial portfolio comprising five properties totaling 220.000 sqm will form the basis. The long-term goal is to develop Terryn into a pan-European IOS platform.
The focus is on strategically located properties in urban infill areas as well as established industrial and logistics clusters. Terryn examines direct acquisitions and sale-and- leaseback. The platform typically seeks properties of approximately 10,000 to 100,000 sqm and larger, with a transaction volume of €5 million to €50 million per property.
Ali Nassiri, Co-Founder & Managing Partner of URBZ Capital, said, “We see IOS as a compelling investment opportunity at the intersection of real estate and essential infrastructure. With Terryn, our ambition is to institutionalise and consolidate this market by building a pan-European portfolio of strategically located sites that are critical to the day-to-day operations of their users. Germany is a very important market in this regard, where we are building the foundations of the platform and a strong local team led by Peter Wenzel.”
David Boyle, Co-Founder & Managing Partner of NW1 Partners, said, “Having been active in the IOS sector in the US for almost eight years, I have seen first-hand how a fragmented market can evolve into an institutional real estate sector. We believe Europe is at an earlier stage of that journey, with many of the characteristics that made IOS such a compelling opportunity in the US. Terryn brings that experience together with local European expertise, creating an institutional platform designed to build a leading pan-European portfolio and generate long-term value for investors.”
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