Peel Logistics Property and Ivanhoé Cambridge establish UK logistics venture
Peel Logistics Property and Ivanhoé Cambridge are pleased to announce the establishment of the Peel Logistics Property UK Logistics Venture (UKLV).
Key highlights of the transaction include:
- UKLV will have significant investment capacity for high quality UK logistics property assets
- Strategy will focus on institutional quality developments in key logistics hubs across the UK
- Initial portfolio comprises three properties recently developed by Peel Logistics Property in Manchester and Liverpool and a prime development site in Sheffield with capacity for over 800,000 sq ft of lettable space
- Ivanhoé Cambridge owns 80% of UKLV, supported by a 20% co-investment by Peel Logistics Property.
Mr Jeremy Greenland, Peel Logistics Property CEO, said: “We are very pleased to launch Peel Logistics Property’s first investment venture and create this new partnership with Ivanhoé Cambridge. With significant investment capacity and the ability to pursue development, value-add and core investments, UKLV will be well placed to capture the opportunities and strong long-term dynamics we see in the UK logistics property sector.”false
Mr Arnaud Malbos, Senior Vice President, Investments, Ivanhoé Cambridge Europe, added: “This new partnership with Peel Logistics Property in the UK confirms Ivanhoé Cambridge’s commitment to increasing its investments in logistics property globally. We are pleased to be working with the Peel Logistics Property team and have great ambitions for the venture.”false
Macquarie Capital (Europe) Limited advised Peel Logistics Property on the establishment of UKLV.
ABOUT PEEL LOGISTICS PROPERTY
Established in 2015, Peel Logistics Property is a specialist UK logistics and industrial property business. The full service platform develops, manages and owns prime-grade UK logistics and industrial properties with in-house management expertise across all key capabilities including acquisitions and sourcing, development, leasing and asset management.
The Peel Logistics Property senior management team has on average over 21 years’ experience in the UK logistics and industrial sector and the platform has a current pipeline of opportunities of over £1 billion. Leveraging its extensive sector experience, Peel Logistics Property aims to provide its capital partners and occupiers with best-in-class solutions including exclusive access to the Peel Group’s strategic land bank.
Find out more www.peellogistics.com
ABOUT IVANHOÉ CAMBRIDGE
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and real estate companies in select cities around the world. It does so prudently, with a long-term view to generate optimal, risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners and major real estate funds that are leaders in their respective markets.
Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in nearly 800 buildings, primarily in the residential, office, retail and logistics real estate sectors. Ivanhoé Cambridge held approximately C$56 billion in assets as at December 31, 2016. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec, one of Canada's leading institutional fund managers.
Find out more www.ivanhoecambridge.com
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For more information
Ivanhoé Cambridge Public Affairs +1 866-456-3342 [email protected]
Jeremy GreenlandChief Executive OfficerPeel Logistics Property+44 (0)203 687 1070
Kirsty GodrichMarketing ManagerPeel Logistics Property+44 (0)161 629 8386