Oxford Properties has launched a £3bn investment programme targeting European logistics with a debut scheme at London’s Heathrow Airport.
The Canadian pension fund has partnered with Logistics Capital Partners to acquire a 15-acre site to the east of Heathrow Airport for its first direct logistics investment in Europe.
It aims to deploy £3bn across the European logistics sector over the next five years.
Oxford manages a £4.7bn portfolio of industrial assets in North America, Europe and Asia Pacific. It has grown its logistics investments from 4% of capital deployed at the start of 2018 to approximately a third today.
Jo McNamara, head of Europe at Oxford Properties, said: “Logistics continues to be one of our highest conviction strategies globally. We continue to believe in the secular shifts underpinning the sector, including e-commerce penetration and evolving supply chains, that will continue to drive robust occupier demand against a limited supply of prime new space.
“This demand and supply imbalance for new, prime logistics space is particularly apparent around major cities where there is significant competition from alternative uses.”
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