CDPQ’s Ivanhoe Cambridge to Acquire its 2nd Logistics Development with NVELOP
Posted on 12/01/2022
Ivanhoé Cambridge purchased its second logistics development project in partnership with the logistics real estate specialist NVELOP. Ivanhoé Cambridge has acquired a 48,000 square meter brownfield site in Velten, north-west Berlin. The site is less than 3 minutes to junction 2a of the A111 motorway, providing access to the dense catchment areas of Tegel, Charlottenburg, and central Berlin in less than 30 minutes. Ivanhoé Cambridge plans to develop approximately 25,000 square meters of logistics space on the site. 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.
This acquisition follows Ivanhoé Cambridge’s announcement in September 2022 that it formed a partnership with NVELOP to invest in logistics real estate opportunities from development to core-plus in Germany and as part of that partnership, acquired a prime 72,000 square meters of brownfield logistics development project in the Frankfurt market. Blake Horsley is the CEO of NVELOP and was formerly working at P3 Logistic Parks.
Keywords: NVELOP Real Estate GmbH, NVELOP Real Estate Limited, Caisse de depot et placement du Quebec.