Ivanhoé Cambridge and LOGOS Acquire Development Site in Broadmeadows, Melbourne
Posted on 08/24/2020
Ivanhoé Cambridge, the real estate unit of CDPQ, and LOGOS signed a deal to buy a strategic development site in Broadmeadows, one of Melbourne’s key infill northern industrial suburbs. Ivanhoé Cambridge plans to develop the site into a $230 million logistics estate with LOGOS to act as the manager and developer.
The acquired property is located at 120 Northcorp Boulevard in Broadmeadows. LOGOS plans to rehab the former Woolworths distribution center to deliver over 120,000 square meters of revamped logistics assets within the renamed LOGOS Broadmeadows Logistics Estate.
CBRE’s Chris O’Brien and Daniel Eramo brokered the deal with the site acquired by a LOGOS venture on behalf of Ivanhoé Cambridge.
LOGOS’ Asia Pacific portfolio comprises 100 logistics estates across nine countries with assets under management of approximately $13.8 billion.
Keywords: Caisse de depot et placement du Quebec.