A string of American investors have entered the European logistics property market this year in a bid to tap its growth potential.
A string of American investors have entered the European logistics property market this year in a bid to tap its growth potential.
In mid-October, US private equity firm TPG and Canadian group Ivanhoé Cambridge acquired PointPark Properties (P3) from Bahraini investment company Arcapita.
A week earlier, logistics property investor and developer Verdion announced that it had entered into an agreement with Canada’s Healthcare of Ontario Pension Plan (HOOPP) to fund and develop €1 bn worth of logistics parks in Europe. HOOPP and Verdion said they will work together exclusively on logistics development throughout Europe, building a portfolio with a value of over €1 bn over the next five years.
Earlier this year, UK-based REIT Segro linked up with another leading Canadian pension fund to double the size of its continental European portfolio to roughly €2 bn. Following the launch of its €1 bn joint venture with Canada’s Public Sector Pension Investment Board (PSP Investments), Segro said it plans to ‘at least double the size of this partnership through developments and acquisitions over the coming years’.
In June, US investment management giant Brookfield Property Partners announced the purchase of UK-based logistics developer Gazeley, the owner of 524,000 m2 of lettable space and land bank of 1.3 million m2 with a further 1.1 million m2 held under option agreements.
Click on the attachment below to read what experts had to say about the European logistics market at PropertyEU’s latest Logistics Investment Briefing.
