Infinium Logistics has launched its first property fund, which will build low carbon, electrified facilities across Europe.
It has raised £200 million in initial equity commitments, giving £500 million of firepower with gearing. The capital will be used to develop a network of “FleetHubs” across Europe.
FleetHubs combine commercial real estate, electric vehicle infrastructure and Infinium’s services to boost efficiency and sustainability for last-mile logistics firms. Infinium describes the facilities as “a new sustainability-focused asset class”.
The fund has secured one site in Swindon, UK and has six more under offer. It is targeting brownfield sites across Europe.
Infinium CEO Phil Bayliss said: ““The last mile continues to come under growing scrutiny and pressure, producing a disproportionate volume of carbon emissions in the areas where people live.
“Our FleetHubs strategy supports our customers in responding to rapid e-commerce growth and climate change whilst retaining a happy, hyper-productive workforce. The future of transportation is zero emissions. We are repurposing existing real estate to enable zero carbon, technology enabled, modern logistics facilities that allow ecommerce operators to reach customers faster in a cleaner and greener, more efficient way.”
Separately, private equity group Greenpoint Partners has invested in Infinium’s platform. Infinium was launched in 2019 as a platform for “decarbonising, electrifying and optimising the last and middle mile logistics space”.
As well as FleetHubs, Infinium is investing in parking, Hyperlocal logistics hubs cargo bikes and parcel lockers.
Investment manager ESR Group has secured its third sustainability-linked loan, of ¥28 billion ($243 million).
The five-year senior unsecured, committed corporate facility was extended by a consortium of Japanese banks, including Sumitomo Mitsui Banking Corporation and Mizuho Bank. ESR will be entitled to a reduction of the interest rate (initially TIBOR plus 1.8%) as sustainability targets are achieved. ESR would not reveal the specific targets and potential interest rate reductions.
Jeffrey Perlman, chairman of ESR, said: “ESG sits at the heart of our business, playing a key role in each and every part of our operations. As the largest real asset manager in APAC, we have a strong sense of common purpose and a vision to focus on the well-being and long-term priorities of our broader community and environment.”
The proceeds will be used to fund the group’s refinancing of existing borrowings, working capital requirements and for general corporate purposes. The loan amount can be increased to ¥35 billion. ESR secured its first, $1 billion, sustainability-linked loan in November 2021.
Previously an Asia Pacific logistics real estate specialist, ESR completed the acquisition of Singapore-based ARA Asset Management in January, creating Asia’s largest real estate investment manager, with $140 billion of assets under management in Asia Pacific, Europe and the US.