Europi Property Group and Incus Capital form strategic joint venture to create a leading Iberian logistics platform
STOCKHOLM, Dec. 29, 2025 /PRNewswire/ -- Europi and Incus Capital have joined forces, committing further capital and resources to grow and establish Ecologis, a major Portuguese logistics company, as one of the leading Iberian logistics platforms. The strategic partnership builds on Europi's and Incus Capital's vast experience in the region and sector, combined with a shared vision of creating a modern, high-quality logistics platform of significant scale covering the most attractive metropolitan regions in the Iberian Peninsula.
Ecologis was launched by Europi at the end of 2021 and has grown to become a leading Portuguese logistics platform of 11 big box and last mile assets, primarily located in the Lisbon metropolitan area. The fully let 160k sqm portfolio features excellent connectivity, with all assets strategically located close to major motorways and metropolitan centres. Tenants include significant international and domestic 3PL companies, leading food distributors and e-commerce players. The portfolio holds strong sustainability credentials, including rooftop solar panels, high energy efficiency and its Adarse asset was the first logistics property in Portugal to achieve a BREEAM In Use Excellent certification.
The new joint venture's expansion strategy is focused on acquiring at least €100m of additional best-in-class, Grade A logistics assets across Portugal and Spain, including development and high-quality standing asset opportunities, backed by its conviction in the Iberian logistics market with buoyant underlying fundamentals. Ecologis will continue its high focus on accretive asset management initiatives to create a further improved, modern high-quality logistics platform with excellent sustainability profile.
Europi was advised by Morais Leitao (legal), Ernst & Young (tax) and NewCycle (technical). Incus Capital was advised by PLMJ (legal), Savills (commercial and technical) and Deloitte (tax and financial).
Jonas Fink, Group Investment Director of Europi Property Group, commented:
"We are very excited to partner with Incus Capital for the continued expansion of Ecologis. We're convinced that Incus Capital's strong Iberian presence and track record will enable accelerated growth and help to create one of the leading Iberian logistics platforms. Since Ecologis was launched, the platform has delivered superior performance and grown to become one of the largest of its kind in Portugal. With a clear focus on operational value creation and sustainability as well as its unique financial backing, the platform is well positioned for its continued Iberian expansion."
Alejandro Moya, Partner at Incus Capital, commented:
"We are pleased to partner with Europi Property Group in the next phase of Ecologis' growth. The platform has been built to a very high standard, with a strong portfolio, excellent locations and a clear commitment to sustainability. Europi has created a compelling foundation in Portugal, and we see significant potential to further scale Ecologis across both Portugal and Spain. This joint venture reflects our conviction in the Iberian logistics market and our strategy of partnering with best-in-class operators to create long-term value through high-quality, resilient assets."
For further information please contact:
Jonas Fink, Group Investment Director, Europi Property Group
E-mail: [email protected]
Contact number: +46 (0) 8 411 55 77
Alejandro Moya, Partner, Incus Capital
E-mail: [email protected]
About Europi:
Europi Property Group is a pan-European real estate investment company with offices in London and Stockholm, investing discretionary capital across all segments with a flexible investment strategy. Europi has since inception completed public and private transactions of more than €800m in gross asset value alongside its established network of local operating partners. By combining a truly entrepreneurial, active ownership approach with focus on social and environmental sustainability, Europi generates long term value and positive impact for all stakeholders.
About Incus Capital:
Founded in 2012, Incus Capital is a real assets investment firm with offices in Madrid, Lisbon, Milan, Paris, Frankfurt and Luxembourg. Incus provides flexible capital solutions to mid-market companies in Europe with a focus on infrastructure, real estate and alternative assets. The firm's investment strategy includes a strong focus on downside protection with target investment sizes between €25 million to €60 million. Incus Capital acts as the investment advisor to funds with more than €2.5 billion in assets under management.
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