Elite Partners Capital unit bags first close to enter UK's logistics scene

This follows after the listing of Elite Commercial REIT.

Elite Logistics Fund, the pure play of Singapore-based alternative asset management firm Elite Partners Capital, gained its first close as they aim to tap the UK’s logistics scene, a press release revealed.

The fund’s first close follows its listing of the first sterling-denominated REIT, Elite Commercial REIT, on the Singapore Exchange on 6 February. Elite Commercial REIT has an initial portfolio of 97 properties across the UK.

Elite Logistics Fund will hold more than four million sqft of logistics assets in Poland and the UK. The Polish assets are in Warsaw and Gdansk, near the largest deep-water container port terminal in Poland operated by PSA International. The UK assets are said to be in key logistics hubs with direct access to main motorways.

All properties in the portfolio are freehold or virtual freehold and leased to large MNCs with strong tenant covenants and long average weighted unexpired lease term of approximately five years.