The joint venture will focus on institutional quality developments in key logistics hubs across the UK.
The initial portfolio includes three properties recently developed by Peel Logistics Property in Manchester and Liverpool, as well as a prime development site in Sheffield, with 800,000 square feet available to let.
Jeremy Greenland, CEO of Peel Logistics Property, said: “We are very pleased to launch Peel Logistics Property’s first investment venture and create this new partnership with Ivanhoé Cambridge. With significant investment capacity and the ability to pursue development, value-add and core investments, UKLV will be well placed to capture the opportunities and strong long-term dynamics we see in the UK logistics property sector.”
Arnaud Malbos, senior vice president of investments of Ivanhoé Cambridge Europe, added: “This new partnership with Peel Logistics Property in the UK confirms Ivanhoé Cambridge’s commitment to increasing its investments in logistics property globally. We are pleased to be working with the Peel Logistics Property team and have great ambitions for the venture.”
Macquarie Capital (Europe) advised Peel Logistics Property on the establishment of UKLV.