QuadReal and Valor to plough another €3bn into logistics

QuadReal Property Group and Valor Real Estate Partners have expanded their tie-up with a second joint venture, which will invest an additional €3bn (£2.5bn) in urban logistics properties in the UK, France and Germany. The new vehicle will adopt a value-add and development strategy focusing on industrial assets in and close to major metropolitan areas, including last-mile logistics. QuadReal will commit the majority of the capital for the new vehicle, while Valor will be responsible for sourcing and managing the portfolio. The new venture comes after the pair launched a €1bn jv in November 2020. Over the past year the jv has deployed the majority of the commitment, completing 22 investments totalling €750m gross asset value across 2.5m sq ft and around 50 buildings. Its portfolio consists of 13 investments in London, six in Paris, two in Berlin and an acquisition in Birmingham. Jay Kwan, managing director for Europe at QuadReal, said: “QuadReal and Valor launched its venture only one year ago, based on a joint conviction in the urban industrial sector across Europe. “We have since made a series of successful investments and are now expanding our venture, in terms of both size and geography.” Christian Jamison, managing partner at Valor (pictured), said: “The critical shortage of warehouse space in major metropolitan areas continues to grow as a result of both near-term drivers, such as the current global pandemic, and long-term drivers, such as e-commerce and urbanisation.” To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Photo © Valor Real Estate Partners