Acquires European real estate assets: Climate-focused real estate investment fund supported by rest debuts purchases
In an ambitious move towards sustainable real estate, Australian superannuation fund Rest has committed €190 million to the Fidelity Real Estate Logistics Impact Climate Solutions Fund (LOGIC). This investment was announced in April 2024, making Rest a cornerstone investor in the fund.
The LOGIC fund, managed by Fidelity International, aims to acquire and redevelop logistics properties across core Western European markets with the goal of operating at net-zero carbon. As part of this strategy, the fund has recently acquired three logistics properties in Tilburg (Netherlands), Roermond (Netherlands), and Ontígola (Spain).
The redeveloped properties hold great potential for generating renewable energy through the installation of solar panels. Upon completion, these properties will be operated at net-zero carbon, contributing to Rest's goal of achieving a 1% allocation to impact investments across its total portfolio by 2026.
Rest, with assets under management of €90 billion, has demonstrated its commitment to sustainable investments with this new investment. The LOGIC fund, which raised €200 million during its first close in spring last year, is now managed by assets totalling €390 million, thanks to Rest's significant contribution.
Although there is currently limited publicly available information regarding the LOGIC fund's carbon emissions reductions following these acquisitions, further details may be found in Fidelity's official reports, sustainability disclosures, or press releases directly related to the LOGIC fund or through announcements by Rest concerning their acquisitions and sustainability commitments.
This investment by Rest is a significant step in its impact investments strategy, demonstrating a commitment to reducing carbon emissions in the logistics sector and promoting sustainable real estate practices. The potential benefits of this investment are far-reaching, not only for the environment but also for the future of sustainable business practices in Europe.
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