Global real estate investor Ivanhoé Cambridge has acquired its second logistics development project in Germany in partnership with developer and asset manager NVELOP. The two companies announced in September that they would invest in logistics real estate opportunities in Germany together, from development to core-plus and as part of that partnership, acquired a 72.000 sqm brownfield logistics project in the Frankfurt market.
In the latest deal, Ivanhoé Cambridge has acquired a 48.000 sqm brownfield site in Velten, north-west Berlin, where it plans to develop around 25.000 sqm of modern and sustainable logistics space. Construction is expected to start in mid-2023 for delivery in early 2024.
NVELOP will act as development manager for the project and asset manager of the completed properties. The site is located close to the A111 motorway, providing strategic access to the dense catchment areas of Tegel, Charlottenburg and central Berlin.
Source: https://propertyeu.info/Nieuws/Ivanho-Cambridge-buys-2nd-logistics-project-in-Germany/857ed798-5824-4528-a52e-cae7aefeac9f, on 6.12.2022