Valor Real Estate Partners ,the pan-European logistics platform and QuadReal Property Group (“QuadReal”) have formed a joint venture to invest €1 billion in urban logistics assets located in key UK, French and German cities. Launched against the backdrop of the Covid-19 pandemic, it underlines the continued appetite of investors for exposure to the European industrial sector and specifically urban ‘last mile’ logistics, a sector which has benefitted strongly from accelerating e-commerce growth in response to changing consumer behaviour.
QuadReal will be the majority investor in the JV, which will have initial capital commitments of €440 million, which with leverage, will provide in excess of €1 billion of investable capital. QuadReal brings its extensive experience in the sector, owning and managing over 75 million square feet of industrial buildings across North America, Europe and Asia Pacific. Valor will be responsible for sourcing and managing the portfolio, leveraging its significant experience acquiring, developing in-house and managing infill logistics assets, having grown a circa €1 billion pan-European portfolio of prime urban logistics assets in just four years and which are primarily located in the highest barrier-to-entry markets of London and Paris. Amassed on behalf of two global institutional investor mandates, Valor’s European urban logistics presence currently totals 75 assets across approximately 6 million square feet.
View full article here.