Canadian property group Ivanhoé Cambridge has made a strategic investment in Peel Logistics Property, making it the third shareholder in the business alongside Macquarie Capital and Peel Group.
The transaction follows the establishment of Peel Logistics Property’s first investment vehicle, the Peel Logistics Property UK Logistics Venture, with Ivanhoé Cambridge in November 2017. Ivanhoé took an 80% stake in that venture, which was set up with three recently developed prime North West assets.
Jeremy Greenland, chief executive of Peel Logistics Property, said: “Attracting such a high quality strategic investor as Ivanhoé Cambridge, one of the leading real estate investors globally, is a strong endorsement of the business we have established.
“With the backing of Ivanhoé Cambridge alongside our existing shareholders, Peel Logistics Property is in a great position to deliver its business plan and continue to provide occupiers and capital partners with access to high quality UK logistics real estate.”
Arnaud Malbos, senior vice president, investments at Ivanhoé Cambridge Europe, said: “We are very pleased to extend our partnership with Peel Logistics Property to a shareholding in the business. We have great ambitions for Peel Logistics Property and intend to support its growth.”
Peel Logistics Property was established in 2015 as a joint venture between Macquarie and Peel. In 2016, the directors of Evander Properties, Jeremy Greenland and Neil Dickinson, became shareholders and assumed senior leadership positions within Peel Logistic Property. The group has recently closed its first investment venture and has a current pipeline of opportunities in excess of £1bn.
Macquarie Capital (Europe) acted as exclusive financial adviser to Peel Logistics Property.