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Ivanhoé Cambridge acquires stake in UK’s Peel Logistics Property

LBR Staff Writer Published 08 March 2018

Canadian real estate firm Ivanhoé Cambridge has purchased an undisclosed stake in UK logistics and industrial property business, Peel Logistics Property.

Ivanhoé Cambridge is the third shareholder in Peel Logistics Property, while other shareholders include Macquarie Capital and Peel Group.

In 2015, Macquarie Capital and Peel Group have created Peel Logistics Property as a joint venture.

In 2016, Evander Properties’ directors Jeremy Greenland and Neil Dickinson joined as shareholders and assumed senior leadership positions within Peel Logistic Property.

Recently, the group closed its first investment venture and has a current pipeline of opportunities of more than £1bn.

Peel Logistics Property is engaged in the development, acquiring and management of prime-grade logistics and industrial properties in the UK.

In November 2017, Peel Logistics and Ivanhoé Cambridge have established an investment venture, Peel Logistics Property UK Logistics Venture (UKLV).

The UKLV is initially accommodated with three properties developed by Peel Logistics Property in Manchester and Liverpool, as well as prime development site in Sheffield with a capacity of around 800,000ft² of lettable space.

Ivanhoé Cambridge Europe investments senior vice president Arnaud Malbos 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.”

Peel Logistics Property CEO Jeremy Greenland said: "Attracting such a high quality strategic investor as Ivanhoé Cambridge, who is 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."

Through its subsidiaries and partnerships, Ivanhoé Cambridge has interests in around 800 buildings, primarily in the residential, office, retail and logistics real estate sectors.

Image: Ivanhoé Cambridge has purchased an undisclosed stake in Peel Logistics Property. Photo: courtesy of Ivanhoé Cambridge.