LOGOS closes joint venture with CBRE Global Investment Partners and Ivanhoé Cambridge
LOGOS China Investments Limited (“LOGOS China”, together with its subsidiaries, “LOGOS China Group”) is pleased to announce that Ivanhoé Cambridge and CBRE Global Investment Partners have committed to investing in the LOGOS China Logistics Club (“LCLC”).
The LCLC investment vehicle is managed by a member of the LOGOS China Group. The venture was formed with the strategy of owning and developing high-quality modern logistics properties located in key hubs serving large Chinese cities, particularly Shanghai. The commitments secured will allow LCLC to make investments that could total up to US$400M.
“This is an exciting next step in the growth of LOGOS in China,” outlined John Marsh, Managing Director and Co-Founder of LOGOS. “Together with our new partners, LOGOS will seek to further expand on our existing specialist logistics real estate platform in China, and capitalize on our deep pipeline of new development and investment opportunities.”
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“Our investment with LOGOS China supports our plan to grow our exposure to opportunities in the logistics sector in key markets such as Shanghai and Guangzhou,” explained Rita-Rose Gagné, Executive Vice President, Growth Markets, for Ivanhoé Cambridge. “The team’s solid experience and expertise, the location of the assets and the strong development pipeline make LOGOS a partner of choice for Ivanhoé Cambridge.”
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“We look forward to continuing the growth of the LOGOS venture,” said Adrian Baker, Managing Director, Asia Pacific, for CBRE Global Investment Partners. “The LOGOS venture is well positioned to acquire and develop logistics assets in our preferred sub-markets across key Chinese cities.”
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Macquarie Capital (Australia) Limited or its affiliates acted as exclusive financial adviser to LOGOS China Group for the transaction and as sole lead manager and arranger for the LCLC capital raising.
About LOGOS Property Group
LOGOS Property Group is an integrated logistics real estate specialist comprising corporate groups with operations in Australia and China. Established in 2010, LOGOS currently has over US$1B in assets and capital under management.
Macquarie Corporate Holdings Pty Limited (ABN 54 096 705 109) (“Macquarie Capital”) has made an equity investment in the LOGOS Property Australia and China Groups. Macquarie Capital is not an authorised deposit-taking institution for the purposes of the Banking Act (Commonwealth) of Australia, and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Capital.
About Ivanhoé Cambridge
Ivanhoé Cambridge leverages its broad expertise, investing in, operating and developing real estate properties and companies to deliver optimal returns for its investors. Through multiple subsidiaries and partnerships, Ivanhoé Cambridge holds assets located mainly in Canada, the United States, Europe, Brazil, Mexico, China and Australia, which totalled more than Cdn$42 billion as at December 31, 2014. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers which held, as at December 31, 2014, $225.9 billion in net assets. For further information: ivanhoecambridge.com.
About CBRE Global Investment Partners
CBRE Global Investment Partners is an independent division of CBRE Global Investors delivering customised global real estate solutions for investors. It constructs portfolios based on client risk and return objectives using private funds, secondaries, co-investments and joint ventures, partnering with leading operators and fund managers for each strategy. Investments Strategies cover the risk spectrum from core to enhanced, can be global or regional in nature. CBRE Global Investment Partners has $11.7 billion in assets under management as of March 31, 2015.
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