QuadReal Property and pan-European urban logistics investor Valor Real Estate Partners have launched a second value-add and development venture with a plan to invest an additional €3bn.

The new joint venture will invest in urban logistics assets located primarily in UK, France and Germany.

In November 2020, QuadReal and Valor formed a joint venture to invest €1bn urban logistics assets located in UK, French and German cities.

At the time, the companies said QuadReal, the real estate arm of British Columbia Investment Management Corporation, will be the majority investor in the partnership and Valor will be responsible for sourcing and managing the portfolio.

The companies said in just over twelve months, the majority of the first joint venture’s commitment has already been deployed, with the venture completing 22 investments totalling €750m gross asset value across 2.5m sqft and approximately 50 buildings.

QuadReal said it will commit the majority of the capital for the new vehicle. Valor will be responsible for sourcing and managing the portfolio.

Jay Kwan, managing director Europe, QuadReal Property, said: “QuadReal and Valor launched its venture only one year ago, based on a joint conviction in the urban industrial sector across Europe.

“We have since made a series of successful investments and are now expanding our venture both in terms of size and geography.”

Christian Jamison, managing partner, Valor Real Estate Partners, said: “The critical shortage of warehouse space in major metropolitan areas continues to grow as a result of both near term drivers, such as the current global pandemic, as well as long term drivers, such as e-commerce and urbanisation.

“As a specialist platform comprised of a vertically integrated team of investment and development professionals, we have a proven track record of delivering scale in these supply-constrained and highly fragmented markets.”

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