CBRE Investment Management, NW1 Partners and URBZ Capital have expanded their industrial outdoor storage (IOS) venture with the launch of a €300m European management platform.
The new platform expects to invest €200m of its capital in Germany and has been seeded with three assets in Duisburg, Essen and Cologne.
The venture is seeking additional acquisitions and expects to build a portfolio of 30 to 40 assets over the next two years.
The latest partnership follows a previous commitment by CBRE IM to NW1 Partners and URBZ Capital’s Dutch IOS vehicle earlier this year.
CBRE IM is funding the venture through its indirect strategies business, utilising capital from both global institutional investors and the Real Estate Partners 2 (REP2) secondaries fund.
Kilian Toms, REP2 fund manager, CBRE IM indirect strategies, said: “This new German IOS venture further reinforces our partnership with NW1 and URBZ. Germany is Europe’s largest freight and manufacturing hub and we see a compelling opportunity to scale in this supply-constrained subsector.
“With significant capital to deploy, we are well positioned to aggregate a high-quality portfolio and deliver strong returns for our investors.”
David Boyle, managing partner at NW1 Partners, said: “From the outset, NW1 and URBZ have worked as equal partners in shaping investment strategy, portfolio construction and execution.
“Germany’s IOS market remains highly fragmented and early in its institutionalisation, creating a rare opportunity to assemble scale through a disciplined and operationally driven approach.”
Bram Verhoeven and Ali Nassiri, managing partners at URBZ Capital, said: “This next step in Germany reflects the strength of the platform NW1 and URBZ have built together over recent years.
“Our collaboration brings together investment judgement, sourcing capability and hands-on asset management into one integrated approach, enabling the platform to grow with consistency and discipline as we expand into new markets.”
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