UK industrial property company The io Group has made its first move into continental Europe, forming a joint venture with Paris-based property asset manager GVI.
The 50:50 venture, to be known as GVio, is intended as the first of a series of joint venture asset management companies in Europe that will acquire, refurbish and manage properties for the European Industrial Partnership Fund, a new vehicle to be launched next year by io Group.
The company expects to attract UK and US institutions to invest in the fund, which could potentially acquire assets worth up to £1bn.
GVio will also market its services to third party investors in the Ile de France region.
EGi News 07/09/99
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