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Three is the Magic Number

25th September 2015 | in Articles | by PropertyWeek

James Markby, Andrea Benvenuti and Kristof Verstraeten teamed up to create Logistics Capital Partners less than six months ago. The trio has already bid on nearly £440m of stock and secured an 850,000 sqft site for Primark.

Have you heard the one about the Englishman, the Italian and the Belgian? No, not the precursor to a bad joke, but in fact the multinational trio of partners that make up Logistics Capital Partners.The newly formed firm has not yet been running for six months, but it has already acquired a site for Primark in the Netherlands, and has the capital backing of a sovereign wealth fund to boot.The track record and pedigree of the partners certainly makes for impressive reading.

The Englishman in the set is James Markby, former head of CBRE’s European industrial and logistics investment team. The Italian is Andrea Benvenuti, who has led Amazon’s logistics footprint across Europe for the past three years. And the Belgian is Kristof Verstraeten, formerly Goodman’s commercial director for Europe.

Together they have more than 50 years’ experience of working on some of the biggest deals in Europe. Now they are looking to draw on that to blaze a trail across the continent.

In April, Markby and Verstraeten struck out on their own after identifying a gap in the market and were soon followed by Benvenuti, who joined as partner and shareholder in July.

“There is a shortage of service provision from specialist logistics providers who are small and able to operate across multiple markets,” Markby tells Property Week. “So you tend to get either the very big guys, Goodman and Prologis, SEGRO toan extent, or you get smaller individual domestic companies. We thought there was a way to put this together and ultimately that ethos formed the foundation of us getting into partnership.

“Our biggest sell is our specialist experience in the sector. The skills that each of the partners bring isslightly different; there’s overlap and we approach things from different angles.

”The firm will focus on development, as a pure developer and consultant, and on investment, as investment partner to wealth funds and to private equity money chasing assets further up the risk curve.

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