Tag: Elite Partners Capital

Singapore-based Elite Partners Capital acquires Automotive Giant’s Global Logistics Center in close proximity to Stuttgart, Germany

Elite Partners Capital announced its latest logistics acquisition in close proximity to Stuttgart, the automotive capital of Germany.

The large-scale multi-user logistics park located within Ettlingen West’s Industrial Zone boasts outstanding transportation infrastructure, including direct connections to the A5, A8 and A65 motorways, access to the Port of Karlsruhe – a major inland port along the Rhine waterway, as well as proximity to major international airports in Frankfurt and Stuttgart. The logistics park is also well-served by local buses and the suburban railway network, ensuring availability of a skilled workforce for warehouses and offices located in and around the property.  

Spanning across a large site of c.180,000 sqm, the logistics park is in excellent condition and offers great third-party reusability by virtue of its contiguous but highly flexible layout. Leveraging on its strategic location in close proximity to Stuttgart, over 85% of the property’s net lettable area is currently tenanted to an automotive giant on a long lease, serving as their global logistics center. Elite Partners Capital will be working closely with the tenant to further enhance the property’s ESG specifications over the upcoming years. Post-enhancement, the property is expected to attain DGNB Gold Certification. The logistics park’s remaining lettable areas are tenanted to a good mix of innovative engineering businesses, supporting the region’s next-gen industrial growth.

Elite Partners Capital acquired the logistics park through its flagship Elite Logistics Fund II, a Pan-European logistics fund backed by a sovereign wealth fund alongside a strong network of family offices across Asia. Elite had previously divested the first installment of its Logistic Fund Series (Elite Logistics Fund I) to Blackstone in 2021, achieving an attractive IRR of over 30%.

“We have been closely monitoring the logistics market across Pan-European cities, targeting quality assets with strong tenant covenants and compelling value-add opportunities”, said Victor Song, co-founder and chief executive officer of Elite Partners Capital. “The stabilizing interest rates presents a strategic window of opportunity for our investors to re-enter the market,” added Song.

The asset was sold by a joint venture between TPG Angelo Gordon and aam2core Holdings AG. The landmark transaction was brokered by CBRE’s Capital Markets team in Germany. Taylor Wessing, Alvarez and Marsal and TA Europe were the appointed advisers for Elite Partners Capital in this transaction. Their invaluable practical and commercial insight were crucial in ensuring the successful closure of the deal.

About Elite Partners Capital

Elite Partners Capital is an alternative investment manager specializing in niche opportunities and underserved markets. The firm is headquartered in Singapore, with offices in London, Prague, and Luxembourg. To date, the firm has managed assets in excess of S$2 billion across 7 countries, a 420% increase from where it started in 2017.

For Media Enquiries, Please Contact:
Orphelia Huang
AVP, Investor Relations
orpheliahuang@elitepartnerscapital.com

High-resolutions images can be downloaded here.

Elite Partners Makes Maiden Entry into the Dutch Logistics Market with Acquisition of a Warehouse in Netherlands

Elite Partners Capital has acquired a warehouse in central Netherlands from a private investor. This comes shortly after its acquisition of a distribution facility in Wrexham UK, announced just earlier in the month. This marks the firm’s first foray into the Dutch logistics market.

The asset is located at Nunspeet, a city just outside the Randstad area in the middle of Netherlands. Located alongside the A28 motorway, it serves as one of multiple industrial/logistics hubs that connects the Randstad area with the northeastern provinces and the northern part of Germany. The asset sits within the Feithenhof business park which has a total size of approximately 27.7 hectares and comprises a mix of local industrial businesses alongside internationally operating occupiers.

The warehouse provides a gross floor area of 30,817 sqm on 55,108 sqm of land. It is fully let to B&C International B.V., one of Europe’s leading suppliers of custom and ready-made window treatments. B&C is one of North America’s Springs Window Fashions’ residential brand. The asset is used largely for sorting and distribution and also houses B&C’s headquarters.

The transaction is part of the second series of EPC’s Logistics Fund and is the firm’s first acquisition in the Dutch market. “The Netherlands is one of the top logistics markets in Europe, underpinned by efficient ports and well-established logistics infrastructure. We are excited to announce our first acquisition within the Dutch market and look forward to growing our footprint here due to its strong fundamentals and logistics demand,” said Mr Victor Song, CEO of Elite Partners Capital.

Elite Logistics Fund II continues to focus on building a portfolio of high-quality logistics warehouse or infrastructure across Europe and the UK.

For this transaction, Opal Partners acted for Elite Partners Capital and Cushman & Wakefield acted for the Seller.

About Elite Partners Capital

Incorporated in 2017, Elite Partners Capital is a Singapore-based licensed fund manager. The Elite Logistics Fund series has a Pan-European strategy focusing on prime logistics assets in the high-growth and defensive sectors.

Media Contact:
enquiries@elitepartnerscapital.com

Elite Partners Acquires Distribution Facility in UK

Elite Partners Capital (“EPC”) has completed another acquisition of a distribution facility in the UK for over GBP 30M.

The asset is located within Wrexham Industrial Estate, a premier industrial location and one of the largest industrial estates in the UK, well placed to serve both Wales and England. The estate extends to over 550 hectares and is home to over 340 businesses creating employment for over 10,000 people. The distribution facility, consisting of two detached industrial warehouse facilities, provides in total 723,114 sqft of built up space on a 45.9 acres land. It is fully let to one of the UK’s largest shop-at-home retailers Shop Direct Home Shopping (a subsidiary of The Very Group – a multi-brand online retailer and financial services provider in the UK and Ireland).

This represents the first UK acquisition for the second series of EPC’s Logistic Funds. Riding on its strong track record and the deep network the manager has built over the years, Elite Logistics Fund II continues to focus on building a portfolio of high-quality logistics warehouse or infrastructure across Europe and the UK.

The acquisition in Wrexham, according to Mr. Victor Song, CEO of Elite Partners Capital, is part of the firm’s bigger plan to amass an institutional-scale portfolio of prime logistics assets across Europe and the UK. He added, “We believe that this asset is particularly well-placed to benefit from the highly dynamic logistics market in the UK where the demand for logistics warehouses remains strong and resilient”.

The UK Industrial & Logistics sector has seen an outperformance due to the e-Commerce boom over the years, which was further accelerated by the Covid-19 pandemic.

For this transaction, Colliers acted for Elite Partners Capital and B8 Real Estate acted for the vendor.

About Elite Partners Capital

Incorporated in 2017, Elite Partners Capital is a Singapore-based licensed fund manager. The Elite Logistics Fund series has a Pan-European strategy focusing on prime logistics assets in the high-growth and defensive sectors.

Media Contact:
enquiries@elitepartnerscapital.com

Singapore’s Elite Partners Acquires Warehouse in Poland for over EUR30 Million (S$48.6 Million) from Subsidiary of Sovereign Fund GIC

Elite Partners Capital (“Elite Partners” or “Elite”) announced today it has acquired a warehouse in Mszczonow, Poland for more than EUR30 million (S$48.6 million) from a subsidiary of Singapore’s sovereign wealth fund GIC. The transaction spearheads its build-up of a portfolio of specialised logistics assets in Europe to address opportunities arising from COVID-19-related disruptions.

The 58,500 sqm (629,700 sqft) facility is the largest warehouse in PepsiCo Poland’s distribution network

Elite, a Singapore-based private equity firm, said its Elite Logistics Fund (the “Fund”) acquired the warehouse from GIC’s wholly owned P3 Logistics Parks. Headquartered in the Czech Republic, the latter also owns a second logistics hub in the Polish town of Piotrkow.

The 58,500 sqm (629,700 square feet) facility is the largest warehouse in PepsiCo Poland’s distribution network, and consolidates the global F&B leader’s logistics and warehouse processes, which were previously run out of several different locations across the Central European nation.

The transaction increases Elite’s presence in the Mszczonow Park to six buildings, with a total area of over 230,000 sqm (2,476,000 square feet). It follows the acquisition of five buildings in March 2020, which was one of the largest transactions in Poland’s logistics sector this year.

Situated south-west of Warsaw, the Mszczonow warehouse is well served by expressways and motorways connecting the Polish capital to Berlin. It is also strategically located just an hour’s drive from the Lodz terminal – the main terminal for the Chengdu-Lodz railway, linking Europe to China.

The latest acquisition is the Fund’s third since May 2020 and has proceeded despite the market and economic disruption caused by the COVID-19 pandemic. The Fund is building a portfolio of European assets focusing on specialised warehousing (in particular, for e-commerce fulfilment and food logistics distribution), cold chain logistics as well as logistics infrastructure. Launched in January 2020, the Pan-European fund is targeting such specialised assets in Poland and the United Kingdom – where it already owns eight other properties – amongst other countries in Europe.

Elite Partners believes that recent supply chain disruptions – first due to Brexit, followed by the COVID-19 pandemic since the beginning of 2020 – have opened up new challenges and opportunities for specialised logistics in Europe.

Mr Victor Song, CEO and Managing Director of Elite Partners, said “We are elated by the completion of this acquisition. The dedicated warehouse in Mszczonow is a vital part of our strategy to build up a Pan-European portfolio of specialised logistics assets in Poland and the United Kingdom with specific geographical focus in the key European logistics hubs.

“The COVID-19 pandemic has accelerated the need to establish dedicated warehouses for sorting and distribution to meet the surge in e-commerce and cold chain to store and distribute food and perishables at a time when more people are working from home. In turn, these require support from specialised logistics infrastructure. Our Fund will cater to all three aspects,” added Mr Enoch Tan, Portfolio Director of the Fund.

Mr Tan noted that Poland has cost advantages for e-commerce fulfilment, exceptional land, sea and air connectivity and is an important component of China’s Belt and Road Initiative.

“Poland also serves as a bridge for commerce and investments between Europe and Asia. We intend to leverage on Elite Partners’ expertise in private and public capital markets to unlock value and opportunities in specialised logistics,” said Mr Desmond Wang, Executive Director of JMD Holdings, a co-investor in the Fund and a unitholder of Singapore Exchange (SGX”)-listed Elite Commercial REIT.

Incorporated in 2017, Elite Partners has launched four funds to date. It is also the Sponsor of Elite Commercial REIT, the first sterling-denominated Singapore REIT listed on the SGX.

Media Contact
Elite Partners Capital
Emily Goh, emilygoh@elitepartnerscapital.com, tel: +65 6779 9288

WeR1 Consultants Pte Ltd
Isaac Tang, elite@wer1.net, tel: +65 6737 4844

About Elite Partners Capital
Incorporated in 2017, Singapore-based Elite Partners Capital is an alternative asset management company focused on the management of yield-accretive global assets with high growth potential and well-defined exit strategies. Backed by a team with proven expertise in private equity and real estate investment trusts (REITs), its threefold investment philosophy aims to protect initial capital, preserve investment value and create new growth opportunities.

Elite Partners Capital holds a Capital Market Services (CMS) licence from the Monetary Authority of Singapore (MAS) under the Securities and Futures (Licensing and Conduct of Business) Regulations. For more information, please visit: http://elitepartnerscapital.com

Elite Partners Capital announces S$3.0m investment in TAG Sensors

Pal Kastmann, Director of Innovation Norway, Micheal Tan, CEO of Elite Partners Capital, Knut Nygard, CEO of TAG Sensors and the Ambassador of Norway to Singapore, HE Anita Nergaard (From left to right)

Singapore private equity firm Elite Partners Capital (EPC) announced an investment of S$3.0m (EUR1.95 million) in TAG Sensors, a Norway-based provider of advanced solutions to track and log the temperature of perishable and sensitive products, both in storage and during transportation.

TAG Sensors’ proprietary Temperature Logging Label is a low-cost, printable temperature sensor that can be attached to a product or package, facilitating continuous tracking of an item’s temperature from production to consumption.

EPC’s Elite InNorvate Growth LP, a Singapore-based fund dedicated to investments in Norwegian growth companies, signed the agreement for an investment of a significant minority stake in TAG Sensors.

Following the investment, TAG Sensors will set up its Asian headquarters in Singapore to leverage on the country’s skilled local talent, modern IT infrastructure, rigorous IP protection and strategic importance as a major logistics hub.

The investment represents one of the first investments by a Singaporean fund in a technology company from Norway, which is seeking to diversify from its traditional reliance on the oil and gas sector. EPC will leverage on its network and resources to help TAG Sensors expand in Asia, a region of rapid economic growth which is experiencing accelerated demand for advanced logistics solutions.

The investment agreement was signed by EPC’s Executive Chairman Mr. Micheal Tan and TAG Sensors’ CEO Mr. Knut Nygard and CFO Mr. Thomas Nilssen at the Norwegian Embassy in Singapore. The signing was witnessed by the Ambassador of Norway to Singapore, Her Excellency Anita Nergaard, and Innovation Norway’s Director and Commercial Counsellor Pal Kastmann.

Established in 2012, TAG Sensors is a recipient of a EUR1.4 million grant from Horizon 2020, the EU Research and Innovation programme. It offers solutions that include Big Data analysis, digitalization, blockchain, sensor technology, and RFID and NFC wireless technologies.

TAG Sensors aims to become the global standard in cold chain integrity measurement and analytics; identifying and ultimately reducing product waste in the food and pharmaceutical industries.

EPC’s Micheal Tan said, “TAG Sensors has a suite of technologies which can transform the entire cold chain logistics industry. Our investment decision is anchored by the firm belief that this is a game-changer which has great potential for expansion in Asia and beyond.”

“We also hope that through this inaugural investment in Norway, EPC can help facilitate Singapore as an important bridge between Asian capital and Nordic technology. This will also open up more Asian-EU economic and technological partnerships,” he added.

TAG Sensors’ Knut Nygard said, “We are delighted to have EPC as a significant investor. We intend to tap on EPC’s network to expand across Asia and add value to the cold chain sector across the region. EPC is a welcome addition to our existing investors that include London-based Breed Reply and Platform Ventures USA.”

Innovation Norway’s Pal Kastmann said, “Norway’s startup and growth companies are highly innovative and have great potential for development. EPC’s investment in TAG Sensors underpins Singapore’s receptiveness to innovation and we hope that this will be the first of many partnerships between Singapore and Norway.”

“Innovation Norway has been working with TAG Sensors for the past four to five years targeting several markets worldwide. We are very pleased that it has successfully diversified its portfolio to include food transportation technology, and believe Singapore will be a perfect point of expansion into South East Asian markets,” he added.

For further information, please contact:
WeR1 Consultants Pte Ltd (Investor Relations), www.wer1.net
Jordan Teo / Ryan del Agua, Tel: +65 6737 4844 elite@wer1.net

About Elite Partners Capital
Headquartered in Singapore, Elite Partners Capital is an alternative asset management company focused on the management of yield-accretive real estate assets with high growth potential and well-defined exit strategies. Backed by a team with proven expertise in private equity and real estate investment trusts (REITs), its threefold investment philosophy aims to protect initial capital, preserve investment value and create new growth opportunities.

Elite Partners Capital is a Registered Fund Management Company with the Monetary Authority of Singapore (MAS) under the Securities and Futures (Licensing and Conduct of Business) Regulations. For more information, please visit: http://elitepartnerscapital.com

About TAG Sensors
Founded in 2012, TAG Sensors is a complete cold chain logistics solution for the food and pharmaceutical industries. It has developed the first low-cost, full visibility solution that ensures and proves that temperature sensitive foods and pharmaceutical products have been stored and transported within the temperature limits.

TAG Sensors’ radio-frequency identification (RFID) Temperature Logger Label is the only one on the market that can effectively track temperature and other variables of an individual package from production to consumption, ensuring transparency, improving quality control and minimising wastage due to improper handling.

The TAG Sensors platform comprises individual Smart Tags for each good equipped with an RFID antenna and temperature sensors, a Tag Management System database that provides logs of sensor labels and alerts quality managers when the temperature is incorrect as well as mobile applications and gate readers. For more information, please visit: http://tag-sensors.com/