Ivanhoé Cambridge has expanded its Hub&Flow European logistics actual property platform into Germany with the acquisition of a 115,000sqm asset in Hamburg.
The actual property arm of Caisse de dépôt et placement du Québec mentioned it has purchased the fully-leased warehouse from ADF Asset Management, a South Korea primarily based asset supervisor. Financial particulars had been undisclosed.
In February 2020, Ivanhoé Cambridge purchased a portfolio of 17 logistics belongings in France in addition to the portfolio’s Hub&Flow model title from The Carlyle Group. The funding kicked off Ivanhoé Cambridge’s growth in continental Europe and its plan to create a number one logistics platform targeted on the important thing European hubs, the corporate mentioned on the time.
Ivanhoé Cambridge has different European logistics ventures, such because the partnership with PLP for the event of a logistics portfolio within the UK and the European last-mile logistics enterprise with URBZ Capital.
Commenting on the most recent deal, Christian Daumann, investments VP in Germany at Ivanhoé Cambridge, mentioned: “With the acquisition of this primary logistics asset in Hamburg, we proceed to bolster our presence in Germany, one of many key markets for our progress in Europe.
“The growth of logistics is a major focus of our strategic plan, which aims, in particular, to triple the size of our logistics portfolio in Europe by 2025. We will therefore continue to build a resilient and diversified portfolio across the European continent.”
Ivanhoé Cambridge was suggested on this transaction by Avison Young, Drees & Sommer and Allen & Overy.
To learn the most recent version of the most recent IPE Real Assets journal click on right here.
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