The real estate arm of the Caisse de dépôt et placement du Québec is acquiring an 11.5 hectare warehouse in Germany.
The facility — located in Hamburg, near Europe’s busiest freshwater freight port — serves as a distribution centre for the H&M Group, which will continue to lease the entire facility under its new ownership, according to a press release.
The acquisition is part of a strategy to capitalize on the growing importance of logistics facilities. In the release, Christian Daumann, vice-president of investments for Germany at Ivanhoé Cambridge, said the organization was seeking to triple the value of its European logistics portfolio within the next three years. “With the acquisition of this first logistics asset in Hamburg, we continue to reinforce our presence in Germany, one of the key markets for our growth in Europe.”
In other news, the Canada Pension Plan Investment Board is joining a venture developing a U.K. industrial park. In exchange for a $228 million investment, the CPPIB will receive a 50 per cent stake in Silverstone Park from its partner Federated Hermes Inc.
The 66-hectare facility has attracted over 80 high-tech engineering companies with current tenants focused on automotive, engineering, defence, manufacturing and electronics, according to a press release, which noted the asset has also developed collaboration schemes with local schools and colleges, including science, technology, engineering and mathematics programs.
The investment is part of a strategy to capitalize on the tech sector in the burgeoning tech sector in the U.K. In the release, Tom Jackson, managing director and head of real estate in the U.K. for the CPPIB, said the institutional investor is seeking long-term development projects.
“We have successfully partnered with Federated Hermes on several projects in the U.K., investing in long-term development projects in growth locations across the U.K., where access to talent and innovation is strong, including Birmingham and Leeds city centres, Milton Park and now Silverstone Park.”