LOGOS closes second joint venture with Ivanhoé Cambridge and CBRE Global Investment Partners in China
LOGOS Property Group ("LOGOS") is pleased to announce that Ivanhoé Cambridge and CBRE Global Investment Partners have committed to investing in the LOGOS China Logistics Venture ("LCLV"), the second logistics real estate vehicle created by LOGOS for these partners in China.
LCLV has been formed with the strategy of owning and developing high-quality modern logistics properties located in Shanghai and neighbouring cities. These markets continue to experience strong economic growth and have a shortage of investment-grade logistics assets. The commitments secured will allow LCLV to make investments of approximately US$400 million.
"This is an exciting next step in the growth of LOGOS’ business in China," commented John Marsh, Managing Director and Co-Founder of LOGOS. "We are delighted to extend our relationship with Ivanhoé Cambridge and CBRE Global Investment Partners, who continue to support our ventures throughout Asia Pacific."
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"Ivanhoé Cambridge’s investment with LOGOS supports our plan to increase exposure to Shanghai and its surrounding key logistics hubs," explained Rita-Rose Gagné, Executive Vice President, Growth Markets, for Ivanhoé Cambridge. "LOGOS has identified an attractive portfolio of existing assets and development opportunities which make LOGOS a partner of choice for Ivanhoé Cambridge."
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"We are excited to continue to partner with LOGOS" said Adrian Baker, Managing Director, Asia Pacific for CBRE Global Investment Partners. "LOGOS has established an attractive pipeline of logistics assets to acquire and develop in and around Shanghai which builds on the vehicle established last year."
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Macquarie Capital acted as exclusive financial adviser to LOGOS for the transaction and as sole lead manager and arranger for the LCLV capital raising.
About LOGOS Property Group
LOGOS Property Group is an integrated investment and development logistics real estate specialist with operations in Australia, China and Singapore. Established in 2010, LOGOS currently has approximately AUD$2.0 billion in assets under management, including end values for projects under development.
Macquarie Corporate Holdings and Ivanhoé Cambridge have an equity investment in the LOGOS.
About Ivanhoé Cambridge
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It does so prudently with a long-term view to optimize risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners that are leaders in their respective markets.
Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in close to 500 properties, consisting primarily in office, retail, residential and logistics real estate. Ivanhoé Cambridge held more than Cdn$55 billion in assets as at December 31, 2015. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. 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, 2016.
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