logivalue. Get in touch

investment intelligence.

A warehouse isn’t the asset. It’s a node.

Its value depends on what flows through it, and right now the flows are moving. We read logistics assets from the side that has to operate them.

Let’s talk How we read a building

What the partners bring

50
years between them on the occupier and operator side
40+
warehouse projects planned, built and run
0
buildings we have ever earned a commission on

In senior roles inside these operations

  • Amazon
  • Zalando
  • DHL
  • Arvato
  • Delivery Hero
  • DIFA / Union Investment

Employers, not clients. This is the experience an Occupier Check is built on: in the room when the network decisions were taken, commissioning the buildings, and signing the leases from the other side of the table.

the bet.

Every valuation already bets on an occupier.

A development, a plot or an opportunistic asset has no rent roll yet. What it has is an assumption: who moves in, and what they pay. That assumption carries the income, the exit and most of the risk, and it is the one input nobody tests before the expensive work starts.

We test it. Not against a market average, but against the companies that would have to run the building, from live negotiations rather than take-up statistics.

“Every valuation already bets on an occupier. We show how good that bet is.”

same shell.

One building, four different businesses.

Logistics is an asset class, and a mature one. The mistake is reading a building as a local asset rather than as one node in somebody’s network. Two buildings can share a postcode, a floor area and a clear height, and be worth very different amounts, because different companies pay for them for different reasons.

Cross-dock

Throughput

Doors, yard depth and turning circles decide everything. Storage is almost beside the point.

Regional fulfilment

Labour and power

Staff catchment in peak week, slab, clear height and the grid connection. Automation lives or dies here.

Last mile

Drive time

Minutes to households, not kilometres to the motorway. The premium pays for itself in routing.

Cold chain

Specified once

Expensive to build, expensive to change, and a narrow field of tenants who can use it as built.

 
 
on your desk
 
 
 
Sight gets you as far as apple or pear, and no further. Taste settles it, once, for good. In a building, the operation is the taste test.

the numbers.

The cost that never shows up in the comparable.

~5%*
Rent as a share of an occupier’s cost per unit.
8×
What transport can cost against that rent.
€700k
A year, for a hundred trucks a day driving ten kilometres further out. About twice what ten per cent off the rent would save.

This is why an occupier pays the upper end of a range for a site that fits the operation, and walks away from a cheaper one that does not. A comparable shows the average. In logistics there is no average.

*Figures are indicative and shift with the transport and labour share of the operation. Rent is the smallest of the three in almost every case.

how we read it.

Three ways in, each one building on the last.

The location

Fit Score

Six axes scored from the address alone: consumer catchment, labour catchment, motorway access, intermodal access, cluster density, and occupier activity in the region from our own transaction data. Ready within a week.

The building

Occupier Check

One asset, two working days, one partner position. Which node role it can serve and which it cannot, which occupier types would bid, what carries the income, what the comparable misses, and who the second tenant would be.

On site

Site Verdict

A site visit and a written position for your investment committee, from the people who have commissioned and run buildings like it. Kept deliberately scarce.

It is not a valuation and not a technical due diligence, and we do no legal or planning work. It answers a question valuations do not ask, and each step is credited against the one after it.

how we work.

We advise the way we once advised our own boards.

In the room when the decision is made, not commenting from the sideline. We also run the projects that follow, because advice you never have to deliver is cheap. Logivalue was founded in 2024 by Carl-Friedrich zu Knyphausen and Raimund Paetzmann, after a combined fifty years and some forty warehouse projects on the occupier and operator side.

One side only

We take mandates where we fully represent one side, and we never assess the same building for two bidders. One asset, one process, one client.

Fee only

No agency commission and no economic interest in the space. That is why a client believes us when we say a building is wrong.

Partner-led

Every mandate stays with a partner. Nothing is handed down and reported back, and the project work behind it sits with our team.

the team.

We have been on your side of the table, and on the tenant’s.

Raimund Paetzmann
Raimund Paetzmann
Managing Partner

Previously Director EMEA Real Estate at Amazon and VP European CRE and Logistics Network Expansion at Zalando, and earlier on the fund side at DIFA/Union Investment.

Carl-Friedrich zu Knyphausen
Carl-Friedrich zu Knyphausen
Managing Director

Previously network and logistics planning at Zalando and Delivery Hero, and operations at DHL and Arvato.

Lisa Graham
Lisa Graham
Senior External Partner

Real estate investment and valuation experience for institutional investors, working with us from France.

questions.

What investors usually ask first.

What is logistics real estate investment intelligence?

Investment intelligence for logistics real estate is a valuation methodology that calculates what a building is worth inside a tenant's supply chain, rather than relying solely on comparable transactions. It combines occupier operations expertise with real estate investment analysis to model actual occupier willingness-to-pay across 95 distinct property types.

How many types of logistics properties exist?

There are 95 distinct logistics property types across 14 categories, including cross-dock facilities, last-mile hubs, cold chain warehouses, and city delivery centers. Each type has different cost structures, tenant requirements, and rental economics.

Why are broker comparables insufficient for logistics real estate valuation?

Broker comparables compare headline rents of superficially similar buildings but don't account for supply chain economics - how a building's specification, location, and design affect a tenant's total logistics cost. Two warehouses at the same rent can have vastly different operational value to different tenant types. Investment intelligence models what each tenant type would actually pay and why.

What is supply chain cost simulation in real estate?

Supply chain cost simulation evaluates real estate deals beyond headline rents by modeling how a building's characteristics affect a tenant's total logistics costs - including transport, labor, automation requirements, and throughput capacity. This determines the building's true economic value within the tenant's supply chain.

What variables determine logistics property value?

Logivalue evaluates logistics properties against 42 site variables and 65 scoring profiles. Key variables include location (proximity to distribution networks, labor markets, transport hubs), building specification (clear height, floor loading, dock doors, column spacing), operational suitability (automation readiness, temperature control, cross-dock capability), and market dynamics (supply scarcity, permitting constraints, tenant demand by type).

let’s talk.

Bring one. We’ll taste it with you.

Tell us what is on your desk. We read it from the occupier’s side and walk you through what we find, so the judgement ends up with you rather than with us.

Thank you! We’ll be in touch shortly.