GREYKITE European Real Estate Fund I (the “Fund”) has signed agreements to acquire a controlling stake in TP Network, a pioneering Industrial Outdoor Storage (IOS) platform operating Safe and Secure Truck Parking Areas (“SSTPAs”) across Europe’s primary intersections. The acquisition responds to the acute undersupply of safe truck parking and growing challenges faced by Europe’s freight and logistics sectors. Developed in 2022 by Padrosa Group and TIIC, who will remain shareholders via the Edmond de Rothschild Private Equity (“EdRPE”) Infrastructure strategy, TP Network will now be further scaled with the entry of GREYKITE alongside new partner JV20. The TP Network platform operates under the NECTION brand.
The initial portfolio comprises seven strategically located SSTPAs, including two operational sites and five in permitting or development, totalling over 1,700 parking bays across mainly Spain, France, Italy, and the Netherlands. Complemented by an 11-asset development pipeline in Germany, France, Austria and Italy, including five advanced-stage projects, TP Network is positioned for significant growth, targeting approximately 40 sites and totalling over €600 million.
TP Network’s business model is built around delivering essential infrastructure that supports the backbone of Europe’s logistics ecosystem — professional drivers and the vehicles they operate. While traditional logistics investments focus on warehousing and last-mile delivery, TP Network offers a complementary approach by addressing critical roadside needs through safe, secure, and digitally enabled parking. Each site is designed with essential quality-of-life amenities, including shops, restaurants, showers, laundry facilities, and rest areas.
Europe’s evolving industrial landscape is driving increased demand for truck parking. Growing retail, manufacturing, EV battery production, and construction, combined with supply chain shifts leading to onshoring and higher inventories, are fuelling demand for storage and logistics infrastructure. At the same time, EU driver regulations, an ageing and shrinking workforce, and rising freight volumes are driving increased demand for secure truck parking. With only 3 percent of truck parking certified secure and an estimated shortage of 400,000 spaces, TP Network addresses a critical market gap.
As part of the transaction, GREYKITE will partner with JV20, an investor and platform operator, and with existing shareholders, Padrosa Group, an operator with over 15 years’ experience in infrastructure management and more than 100 years of logistics expertise, and TIIC, a mobility and infrastructure specialist, who will all remain as shareholders. TP Network combines operational excellence with strategic site selection along Europe’s key freight corridors. This institutional approach ensures strong tenant demand, optimised utilisation, and scalable revenue growth.
This acquisition marks GREYKITE’s seventh investment strategy for the Fund, which also includes investments in data centres, logistics, multi-let industrial, student housing, and two single-family rental strategies.
Telam Partners advised the current shareholders on this transaction.
Michael Abel, Founder and CEO of GREYKITE, said: “TP Network represents a landmark initiative to close a vital infrastructure gap across Europe. With demand for secure parking rising due to regulatory shifts and systemic undersupply, we are building a scalable, differentiated IOS platform that we believe will provide a strong outcome for our investors while supporting the freight economy and driver welfare. We are excited to partner with TIIC, Padrosa, and JV20 to leverage their long-standing platform and infrastructure expertise and be an early mover in this nascent, compelling IOS truck parking sector.”
Manuel Cary, CEO and Partner at TIIC, said: “Safe and secure truck parking is a critical component of Europe’s mobility infrastructure. TP Network’s focus on strategic locations and driver-centric amenities addresses a clear market gap, while the platform’s scalable, future-ready model also responds to increasing ESG priorities across the logistics sector. We are proud to support, via the EdRPE Infrastructure strategy, the platform’s next phase of growth alongside GREYKITE, JV20, and Padrosa Group.”
Pere Padrosa Pierre, President of Padrosa Group, said: “The network of secure truck parks that we are building is an infrastructure of general interest for mobility and the supply of goods in Europe. With them, we address pending sector challenges, such as the well-being of drivers; present challenges, such as the energy transition and digital transformation; and future challenges, such as the autonomous driving of heavy vehicles. It is a global solution for ESG priorities and the fulfilment of sustainability, and the need to make operations of the transport sector efficient. The partnership with GREYKITE, JV20 and TIIC strengthens the development and growth of the project.”
Juan Velayos, Managing Partner of JV20, added: “Partnering with GREYKITE on this transaction reflects our shared vision for investing in high-potential real estate platforms with strong fundamentals. GREYKITE brings deep sector insight and institutional rigour, making them an ideal complement to TIIC and Padrosa Group, who have impressive experience in this space. Together, we are excited to scale a business that sits at the intersection of infrastructure, logistics, and operational resilience.”
