Ivanhoe Cambridge has acquired a new, speculative logistics project development in Lambresz-lez-Douai, south of Lille, for the portfolio of Hub&Flow.
Ivanhoe Cambridge plans to build a state-of-the-art logistics property measuring around 28,500m2 on the 57,700m2. The aim is to achieve sustainability certification in the BREEAM Excellent standard. Construction work will begin in January 2024 and completion is scheduled for the first quarter of 2025.
Garbe Industrial Real Estate (Garbe) aided Ivanhoe Cambridge in structuring this transaction and will assist the Company during the development and commercialisation of the asset.
“This new acquisition demonstrates the strength of the logistics market in France, a key priority in our strategy, supported by strong structural trends and robust leasing momentum. This investment in line with our sustainable investment commitment, offering leading environmental in terms of energy efficiency,” commented Maud Wargny, Senior Director, Investments, Europe, Ivanhoe Cambridge.
Michael Vidamant, President, Garbe Industrial Real Estate, France, noted: “With this new logistics project, Garbe is strengthening its presence in France while maintaining collaboration with a major player, Ivanhoe Cambridge, via innovative structuring in a financial environment that limits speculative development.”
Ivanhoé Cambridge was advised in this transaction by Garbe France (Michaël Vidamant), Etyo Real Estate (Vincent Rigal), Allez & Associés (Nathalie Filbet-Fournis and Maylis Dupond), Tostain & Laffineur Real Estate (Antoine Tostain) as transaction intermediary, and BNP Paribas Real Estate (Franck Poizat) as buyside advisor.
Image provided by Edelman.
