ICG Real Estate launches €1.5bn industrial and logistics platform

ICG Real Estate has launched its €1.5bn (£1.3bn) Metropolitan Last Mile platform. The platform of distribution and industrial assets will be focused on major urban centres across the UK, France, and Germany. Over the last nine months, ICG RE has seeded Metropolitan with 35 assets across the three countries through eight separate transactions, worth more than €500m. ICG RE said the portfolio had been acquired in a repriced market environment through off-market and special situations. Approximately 65% of Metropolitan’s assets are located in London, Paris, and Berlin. The portfolio is fully let but offers significant value creation opportunities through densification and rental reversion. ICG RE’s global head of real estate Krysto Nikolic, said: “In the past six months we have taken advantage of the significant dislocation and repricing in European logistics markets to assemble the existing portfolio, under the radar and at very attractive prices. “As markets continue to be unstable, we anticipate that our “special situations” approach to the sector will allow us to access value in an asset class that continues to have very robust demand and supply fundamentals.” The formation of the platform was spearheaded by ICG Real Estate’s opportunistic team and has received strong backing from leading global institutional investors. It has a strategic growth plan to expand to over €1.5bn within the next 18 months, with a strong pipeline already identified across key target markets. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Photo © EFAFLEX_Schnelllauftore/Pixabay