With the logistics and industrial sector heading for record sales and investment activity, it is a key area for growth in the market. Our experience advising half of the top ten real estate managers in this space is a reflection of the quality of our legal advice and our knowledge of this rapidly changing sector allows us to keep on top of changes and market challenges.
Our team advises on the full range of real estate transactions involving logistics, including sales, purchases, developments and joint ventures. Our experience in this area is broad, ranging from advising one of the world's leading shipping groups to advising one of the world's largest asset private equity houses. We are able to provide seamless multi-disciplinary advice to our clients across the globe, not only in real estate, but also on corporate, finance and tax matters; offering unparalleled service all under one roof.
Instructed by Korean Asset Manager, Vestas Investment Management, on its debut UK deal. The deal included a £126 million forward funding transaction involving a new logistics unit, let to Amazon in Bardon, Leicestershire. Vestas' main investor on this deal was Samsung.
Advised on the creation of a new property logistics parks fund with a value of €200 million, formed with Parkridge, to develop and own distribution-warehousing parks in Central Europe. The logistics parks will be developed on a pre-let and speculative basis in Poland, Hungary, Slovakia and the Czech Republic with an average park size of 80,000 sq m across the region. The investors in the fund are Parkridge and the three Morley managed Norwich Union Life Funds.
Advised CMA CGM Group, one of the world's leading shipping groups based in Marseilles, France, on a pre-let of a 107,155 sq ft logistics plot at DP World London Gateway Logistics Park, located on the River Thames and adjoining the London Gateway Port. CMA will take a 25 year CPI linked lease and the state-of-the-art facility is expected to be operational in the summer of 2019.
Advised Ares Management Ltd on the acquisition of the €110 million Novem Portfolio, in an international transaction covering France, Germany, Italy, Luxembourg and Scotland. The real estate portfolio comprised nine logistics properties located in Germany, France and Italy. The transaction was complex in a number of ways, as Ares acquired the assets through the acquisition of all units of the regulated "EURO LOGISTIK 1" investment fund held by ten different German institutional investors. The fund was and will continue to be managed by German asset manager INTERNOS Spezialfondsgesellschaft mbH, who in the transaction was also acting on behalf of those selling investors.
Advised global LPs Canada Pension Plan Investment Board and Dutch pension fund APG in respect of a new joint venture with Goodman which is targeting the UK logistics market. The strategy is to grow the fund to a value of £1.2 billion.
Completed the acquisition for Raven Russia of a 45,237 sq m completed grade A warehouse at Sholokhovo, on Dmitrov Shosse to the North of Moscow from a fund managed by Fleming Family and Partners for a consideration of $49.75 million.
Advise Chancerygate, one of the UK's leading industrial property development and asset management companies, on their nationwide real estate portfolio. Our advice covers acquisitions, planning, forward funding, lettings and disposals across their largely industrial portfolio.
Advise BlackRock on their UK property portfolio. We have recently advised on the development of a 155,000 sq ft distribution centre for Samworth Brother's in-house logistics division at Leicester Distribution Park, and the acquisition and leaseback of a distribution centre in Avonmouth.
Advised Clearbell on the financing and acquisition of eight logistics assets on behalf of a fund it manages (including three bought from Helical). The assets will form part of the Cara portfolio, a UK-wide portfolio dedicated to the logistics sector. The acquisitions bring the total assets in the Cara portfolio to 20.
The GIANT Portfolio comprises over 30 industrial real estate properties in the logistics sector distributed throughout Germany and the Netherlands. The joint venture, established under the name GIANT Growth Industrial Asset Net-Income Trust, combines various portfolios valued at approximately EUR 450 million which had already been under the administration of Garbe Industrial Real Estate GmbH. We advised primarily on the terms of the joint venture and the transaction financing.
Advised on the acquisition of a logistics property at Manchester airport by way of a share deal. The property is rented out to Amazon UK Services for a period of 15 years. The overall size of the object is 25,700 sq m and the total volume of the transaction was EUR 45 million.
Advised Prologis on the disposal of 13 UK-based distribution warehouses for £220 million to Blackstone. Prologis is one of the leading providers of distribution buildings and owns and manages over 20 million sq ft of industrial space in the UK.