Integrated institutional real estate investment firm Affinius Capital has acquired the remaining interest in the Mountpark development company to become sole owner of the business.
In a separate transaction, investment vehicles managed by Affinius Capital acquired Mountpark Logistics EU, the holding company owning the joint venture real estate assets.
This acquisition follows a decade-long joint venture with Mountpark, a pan-European development company founded by John Cutts, along with the related logistics investment portfolio.
The transaction was envisioned by the parties several years ago and builds upon the established foundation of progress and performance.
'Ten years ago, we realised that Mountpark was an experienced and talented logistics developer in Europe, and we recognised that through our alignment the company could reach an even greater potential,' said Affinius Capital CEO & Chairman Len O’Donnell.
'Now, this transaction creates the next chapter and demonstrates the tremendous confidence we have in Mountpark’s principles and strategies. We share a focus on the value of relationships, and together we can facilitate continued success for our customers and investors.'
With this strategic consolidation, Justin Hildebrandt, head of European business for Affinius Capital, will return to lead the Mountpark business and continue parallel roles at Affinius Capital and Mountpark.
Said Hildebrandt: 'The Mountpark business and our joint venture have been a success story built upon the experience and innovation of our larger teams and long-standing relationships in Europe and globally.
'I’m honoured and incredibly excited to be part of the next phase of growth where we look to expand upon our collective industry expertise and market relationships to develop solutions for our occupier customers and capitalise on emerging opportunities for our investor clients.'
Effective 25 November, Affinius Capital became the sole owner of Mountpark with plans to expand the strategy.
Through Mountpark, the joint venture has delivered 1.64 million m2 of logistics development and has 18 sites secured for future development of more than 3.3 million m2 across Europe.
As part of this transaction, Cutts is stepping down as chairman and leaving Mountpark to pursue private interests. In addition, current Mountpark CEO, David Buck, is returning to the US to resume his prior role as head of global logistics for Affinius Capital.
