Brookfield’s real estate solutions business has partnered with UK industrial real estate manager Copley Point Capital to acquire three warehouses located adjacent to the Northern runway at London Heathrow Airport.
Brookfield Real Estate Solutions and Copley Point have invested an undisclosed sum to acquire the 220,000sqft portfolio of distribution warehouses that serve as air cargo logistics hubs for three tenants – DHL, Circle Express and Air Menzies.
Alexis Prevot, managing director at Brookfield Real Estate Solutions, said the deal marks the firm’s fourth acquisition through its “UK mission-critical warehouse joint venture” with Copley Point and its eighth investment in Europe through Brookfield’s real estate sponsor solutions strategy.
“We will continue to offer solutions to sponsors across all real estate asset classes, with these three distribution warehouses an example of the type of high-quality, well-located assets that we will continue to target across Europe.”
Nimit Oberoi, managing director at Copley Point said: “We are delighted to gain exposure to the highly undersupplied Heathrow market with assets that are well suited for both national distribution and airport-related logistics.
“We look forward to adding value to these assets by implementing ESG improvements and capturing the inherent rent reversion.”
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