The founding partners of KTR Capital Partners have teamed up with Christian Jamison, the former CEO of Delin Capital Asset Management, to create Valor Real Estate Partners, a new vehicle to invest in European logistics and industrial properties.
Christian Jamison established DCAM in 2012 and served as the company's CEO until his departure from the business in February 2016. During his tenure as CEO, Jamison established DCAM within the European logistics real estate sector, built a team and created Capital Preservation Portfolio 1, a €500 mln fund of prime European logistics properties totalling 6 million sq ft (557,000 m2).
KTR was established by Jeffrey Kelter and Robert Savage in 2004 as an investment, development and operating company focused exclusively on the industrial property sector in North America. In May 2015, Prologis acquired the real estate assets and operating platform of KTR and its affiliates for a total purchase price of $5.9 bn. The portfolio at the time comprised over 70 million sq ft of properties including development potential.
Headquartered in London, Valor Real Estate Partners will invest in select markets across Europe, with a primary focus on Western Europe and the UK. Valor will focus on investment in modern logistics properties as well as last-mile infill distribution properties.
Jamison will become managing partner of Valor and he is currently in the process of hiring investment professionals with a view to having the organization established 'as soon as feasible'. Valor will initially invest its own capital, with the option to introduce third party investors at a later date.
Christian Jamison commented: 'I am delighted to announce the formation of Valor Real Estate Partners at such an exciting time for the European logistics real estate sector. The continued evolution of the cycle, the anticipated ownership changes amongst some large pan-European players, as well as the on-going growth in e-commerce provide a compelling environment to generate attractive risk adjusted returns.'
Kelter added: 'We see many of the same characteristics across the European industrial real estate landscape that we saw in the US when we established KTR. Against that backdrop, we see a real opportunity to establish Valor as a significant player in a relatively short period of time.'
