IDI Gazeley Announces Major Logistics Portfolio Acquisition from CarVal Investors

Strategic portfolio totalling 2.4 million sq ft (228,000 sq m) comprises of 13 logistics warehouses located in France and Hungary and represents the second major acquisition in the past 6 months

LONDON, 1 December 2014 – IDI Gazeley (Brookfield Logistics Properties), a leading global investor and developer of logistics warehouses and distribution parks, has today confirmed the acquisition of a portfolio of logistics assets totalling 2.4 million sq ft (228,000 sq m) comprising of 13 buildings located in France and Hungary.

The acquisition of the portfolio was completed at the start of December from CarVal Investors and includes:

  • 11 buildings located with the metropolitan areas of Paris and Lyon, the prime two distribution markets in France
  • 2 buildings located in the prime sub-market of Budapest, Hungary with Class A specifications

The portfolio is leased to a variety of pan-European tenants, including Geodis, Lidl, FM Logistics, Norbert Dentressangle and Kuehne & Nagel, many of which IDI Gazeley already counts as valued customers.

The announcement represents the second major portfolio acquisition executed in the last six months and follows the acquisition of 1,000,000 sq ft (97,000 sq m) in 3 fully leased, Class A buildings in prime locations in Germany, France and Italy. It brings the total number of Class A logistics assets acquired during 2014 to 3.8 million sq ft (351,000 sq m) across 17 buildings.

Speaking about the announcement Chief Acquisitions Officer Nick Cook said, “As we grow our business and expand our portfolio of logistics assets under management, the acquisition of this strategic portfolio represents an important addition. This off-market portfolio acquisition fits squarely with our strategy of acquiring value-add logistics assets in important European sub-markets, leased to strong customers. We look forward to making further acquisition announcements in due course.”

Frédéric Laurent, Managing Director at CarVal Investors, commented “We are delighted to have concluded this successful transaction with IDI Gazeley. Having opportunistically acquired the portfolio in 2011, we achieved our goal to sell this high quality portfolio to a leading investor in logistics warehouses that will take it to new levels through their strong tenant relationships.”

Also speaking about the announcement, Brookfield Property Partners Managing Partner Global Head of Industrial Jay Cornforth said, “This acquisition crowns an excellent year for IDI Gazeley in Europe as we continue to invest in the expansion of our global platform and offer of best-in-class industrial and logistics real estate assets and development services for our expanding network for customers.

In the past 6 months, we have grown our portfolio of logistics assets under management considerably, adding a further 3.8 million sq ft (351,000 sq m) of premier assets to a portfolio which now exceeds 62 million sq ft (6 million sq m) globally.

On the development side we have also made considerable progress, signing deals for new build-to-suit development projects totalling over 3.5 million sq ft (325,000 sq m) for some of Europe’s best known brands and leading companies, names that include Waitrose, Toys”R”us, Relay, John Lewis, L’Oreal, Rudolph Logistics, Carrefour and Travis Perkins.

With a growing portfolio of assets and the support of Brookfield, IDI Gazeley is ready and perfectly placed to assist the growth of our customers and businesses looking to expand into high quality logistics space with superior customer service."

For more information, please contact:

IDI Gazeley London
Nick Brown
T: +44(0)207 901 4455
M: +44(0)7590 076105
E: nick.brown@brookfieldlogistics.com

About IDI Gazeley
IDI Gazeley (Brookfield Logistics Properties) is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 60 million square feet of premier assets under management and additional prime land sites to develop another 63 million square feet of distribution facilities near major markets and transport routes in North America, Europe and China. As part of Brookfield Property Partners, we belong to one of the world’s largest and most sophisticated owners, operators and investors in real estate.

For more information, please visit www.brookfieldlogisticsproperties.com.

About Brookfield
Brookfield Property Partners is a leading owner, operator, and investor in best-in-class real estate around the globe. Their diversified portfolio includes interests in over 300 office and retail properties encompassing 250 million square feet, 60 million square feet of industrial space, 22,000 multi-family units, 11 hotels, and a 100-million-square-foot development pipeline. These assets are located in North America, Europe, and Australia with a small presence in China, Brazil and India.

For more information, please visit www.brookfieldpropertypartners.com.

About CarVal Investors
CarVal Investors is a leader in managing opportunistic value investments. Since 1987, CarVal Investors has acquired more than $78 billion in assets in 5,200 transactions in 71 countries. The firm has opportunistically invested over $9.5 billion in more than 1,000 global real estate transactions since 1991. Today, CarVal Investors has over $10 billion in assets under management in both credit and real estate strategies. In Europe, CarVal Investors’ real estate team focuses on the office, industrial, residential and retail sectors in the U.K. and France.

For more information, please visit www.carvalinvestors.com.

Nos bureaux dans le monde

Contacts Relations Presse

Amérique du Nord
Reed Barrickman
+1.404.479.1626
reed.barrickman@idigazeley.com

Europe et Au-delà
Ged Brumby
Smithfield Consultants
+(0)20 7903 0674
gbrumby@smithfieldgroup.com

Rob Yates
Smithfield Consultants
+(0)20 7903 0625
ryates@smithfieldgroup.com