TPG Real Estate Partners (TREP) has launched a UK industrial real estate investment platform with Derek Heathwood, a former UK property director of Hansteen Holdings.
The 4th Industrial (4i) platform has already acquired 1.13m sqft portfolio of 125 units across seven sites in separate transactions with Nuveen, funds managed by DTZi, KFIM and Network Space.
The properties in the 4i platform’s initial portfolio include Crendon Industrial Estate in Thame, Alpha Business Park in Birmingham, Melford Court in Warrington, Faraday Park in Swindon, Moorbrook Park in Didcot, Tunstall in Stoke-on-Trent and Ashroyds Business Park in Barnsley. The development sites are at Estuary Prime and Brookfield Drive in Liverpool.
TREP said Heathwood and his team will oversee the day-to-day management of the platform and pursue additional acquisition opportunities in partnership with the TREP team.
Heathwood, managing director of 4i, said these initial acquisitions will provide a strong foundation on which to build a platform of scale, placing 4i firmly on the map.
”We can already see a pipeline of new opportunities to grow the portfolio.”
Michiel Celis, managing director at TREP, said: “We are delighted to partner with Derek to form 4i. He brings a wealth of experience in the sector from his time at Hansteen and heads up a team with best-in-class acquisition and asset management capabilities.
“The 4th Industrial venture is typical of TREP’s approach of building platforms around high-quality management teams.”
James Piper, partner at TREP, said: “This is a key focus for TREP, whereby we will provide Derek and the team with the capital and support to achieve our collective goal and create a platform of significant scale.”
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