Ivanhoé Cambridge has made a strategic investment in Peel Logistics Property and joins Macquarie Capital, Peel Group and members of management as shareholders in the company.
This transaction follows the establishment of Peel Logistics Property’s first investment project, the Peel Logistics Property UK Logistics Venture, with Ivanhoé Cambridge in November 2017.
Arnaud Malbos, senior vice-president, investments, Ivanhoé Cambridge Europe, said: “We are very pleased to extend our partnership with Peel Logistics Property to a shareholding in the business. We have great ambitions for Peel Logistics Property and intend to support its growth.”
Jeremy Greenland, chief executive of Peel Logistics Property, said: “Attracting such a high-quality strategic investor as Ivanhoé Cambridge, one of the leading real estate investors globally, is a strong endorsement of the business we have established.
“With the backing of Ivanhoé Cambridge alongside our existing shareholders, Peel Logistics Property is in a great position to deliver its business plan and continue to provide occupiers and capital partners with access to high-quality UK logistics real estate.”
Ivanhoé Cambridge previously jointly owned logistics operator P3 Logistics Parks with TPG (acquired in 2013, when the business was valued at around £760m and comprised 48 warehouses). It significantly increased the size of the business through acquisitions and development, and sold P3 in 2016 to Singapore’s sovereign wealth fund for €2.4bn.
Peel Logistics Property was established in 2015 as a joint venture between Macquarie Capital and Peel Group. In 2016 the directors of Evander Properties, Jeremy Greenland and Neil Dickinson, became shareholders and took on senior leadership positions within Peel Logistics Property. The group has recently closed its first investment venture and has a pipeline of opportunities of more than £1bn.
Macquarie Capital acted as exclusive financial adviser to Peel Logistics Property.
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