Ivanhoé Cambridge has expanded its Hub&Movement 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 stated it has purchased the fully-leased warehouse from ADF Asset Administration, a South Korea based mostly asset supervisor. Monetary particulars have been undisclosed.
In February 2020, Ivanhoé Cambridge purchased a portfolio of 17 logistics belongings in France in addition to the portfolio’s Hub&Movement 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 stated 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 newest deal, Christian Daumann, investments VP in Germany at Ivanhoé Cambridge, stated: “With the acquisition of this primary logistics asset in Hamburg, we proceed to strengthen our presence in Germany, one of many key markets for our development in Europe.
“The expansion of logistics is a significant focus of our strategic plan, which goals, particularly, to triple the scale of our logistics portfolio in Europe by 2025. We’ll subsequently proceed to construct a resilient and diversified portfolio throughout the European continent.”
Ivanhoé Cambridge was suggested on this transaction by Avison Younger, Drees & Sommer and Allen & Overy.
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