Valor Real Estate Partners, the London-headquartered pan-European logistics investor, has entered the Irish market by acquiring Horizon Logistics Park, a 1.8 million sq ft logistics hub next to Dublin Airport, for around €500 million.

The joint venture purchase from Henderson Park is the largest logistics transaction recorded in Ireland and one of the country’s largest individual property deals.

The park has 25 units let to a mix of domestic and international occupiers, with an average lease term of more than eight years. The buildings were developed to high sustainability standards, and the site includes about 260 acres of development land.

Valor was founded in 2016 and is headquartered in London, with offices in Paris and Berlin. The purchase extends its pan-European logistics platform to more than €6 billion of assets under management across 12 UK and European last-mile logistics cities.

Valor bought Horizon alongside GIC, the Singapore sovereign wealth fund. The seller, Henderson Park, acquired Horizon as part of its €1.34 billion takeover of Green REIT in 2019, when the park comprised 12 buildings.

The structural driver is Valor’s expansion of its last-mile platform beyond the UK and continental Europe, with Dublin becoming the latest city on its platform.

Cane Napolitano, managing partner and chief investment officer at Valor, said, “James and his team brought rigour and a sure command of a complex process. It builds on a relationship spanning more than 50 deals together in the UK and we’re pleased to have extended it to Ireland.”

Simmons & Simmons advised the joint venture, using a cross-border team in London and Dublin led by real estate partner James Curry.

For the sector, the deal sets a new benchmark for the scale of institutional capital entering Irish logistics, with a pan-European specialist and a sovereign investor backing a single Dublin Airport asset.

Source: Logistics Matters / IPE Real Assets / QuadReal