Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, has announced a new logistics property venture alongside Peel Logistics Property.
The new venture will focus on developing a portfolio of properties in important logistics hubs in Britain. At the outset, the portfolio consists of three properties, one each in Manchester, Liverpool and Sheffield, England. Ivanhoé Cambridge owns 80 per cent of the venture, with Peel Logistics Property taking on a 20 per cent co-investment.
“This new partnership with Peel Logistics Property in the U.K. 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,” said Arnaud Malbos, senior vice-president of investments for Ivanhoé Cambridge in Europe, in a release.
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Peel Logistics Property specializes in British logistics and industrial properties, including acquisition, sourcing, development and leasing.“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, [the new venture] will be well placed to capture the opportunities and strong long-term dynamics we see in the U.K. logistics property sector,” said Jeremy Greenland, chief executive officer of Peel Logistics Property.