Peel Logistics Property establishes first investment venture with Canadian firm
Peel Logistics Property has established a new investment venture with Canadian real estate business Ivanhoé Cambridge.
The companies said the new tie-up, Peel Logistics Property UK Logistics Venture (UKLV), will have significant investment capacity for high-quality UK logistics property assets.
UKLV’s strategy will focus on institutional-quality developments in key logistics hubs throughout the UK.
Its initial portfolio will comprise three properties recently developed by Peel Logistics Property in Liverpool and Manchester, as well as a prime development site in Sheffield with capacity for more than 800,000 sq ft of lettable space.
Ivanhoé Cambridge owns an 80% slice of UKLV, backed with a 20% co‐investment from Peel.
Jeremy Greenland, CEO of Peel Logistics Property, said: “We are very pleased to launch Peel Logistics Property’s first investment venture and create this new partnership with Ivanhoé Cambridge.
“With significant investment capacity and the ability to pursue development, value‐add and core investments, UKLV will be well placed to capture the opportunities and strong long‐term dynamics we see in the UK logistics property sector.”
The senior vice president of investments at Ivanhoé Cambridge Europe, Arnaud Malbos, commented: “This new partnership with Peel Logistics Property in the UK confirms Ivanhoé Cambridge’s commitment to increasing its investments in logistics property globally.
“We are pleased to be working with the Peel Logistics Property team and have great ambitions for the venture.”
Peel Logistics Property was advised on establishing UKLV by Macquarie Capital (Europe) Limited.