Ivanhoé Cambridge acquires first last-mile logistics property in Munich with URBZ Capital

Berlin, Germany, 12 January 2023 - Global real estate company Ivanhoé Cambridge, together with its partner URBZ Capital, an investment and asset management boutique, is acquiring the first last-mile logistics property in Munich.  

The high-quality last-mile logistics property is located on a 23,782 square metre site in Karlsfeld, not far from Munich, and comprises a total rental area of 12,570 square metres. In addition, there is the possibility of extending the property by a further 4,440 square metres of logistics space. The property is strategically located close to Munich city centre, which is considered one of the leading and most sought-after (industrial) property markets in Germany and Europe. The location is connected to a major motorway network and covers a large and densely populated metropolitan area with more than six million inhabitants - which makes it even more attractive.  

Once the modernisation work has been completed, the property will meet modern ESG standards. This includes BREEAM certification (including the installation of LED lighting and sensors, daylight access, etc.), charging stations for electric vehicles and sustainable building installations. The property boasts an attractive design, including natural daylight in the warehouse and a leisure area outside the building to improve the wellbeing of the occupiers.  

The acquisition is part of Ivanhoé Cambridge's last mile logistics strategy, which was launched at the end of 2021 in partnership with URBZ Capital. The aim is to develop a large portfolio of last-mile logistics properties in Northern and Western Europe, particularly in the Netherlands, Germany, Belgium and the Nordic countries. Since its inception, the partnership has acquired 21 properties, mainly in the Netherlands, Sweden and Germany.

Christian Daumann, Vice President, Head of Investments, Germany, at Ivanhoé Cambridge, comments: "We are very proud to finalise this important transaction in the German last-mile logistics sector with our partner URBZ Capital. This deal underlines our ambitions in the German logistics market and allows us to further accelerate the diversification of our last mile portfolio. Our last-mile strategy aims to anticipate structural market trends and serve new tenant needs in the context of rapid e-commerce growth. This includes developing modern and low-carbon assets in the heart of cities to deliver faster to customers in the city."

Ali Nassiri, Co-Founder and Managing Partner of URBZ Capital, added: "We are delighted to add this prime last-mile asset to our portfolio in such a strategic location just a stone's throw from Munich's city centre. This acquisition confirms our ability to access high quality last mile assets. This will enable us to continue to provide efficient and sustainable last mile logistics solutions for our customers. We look forward to further enhancing the already high quality building with a refurbishment and expansion programme, whilst commencing the letting of the vacant asset in a very exciting market with virtually no vacancy."

Ivanhoé Cambridge and URBZ Capital were advised on this transaction by Hogan Lovells, ERM and WSP. The transaction was negotiated by JLL on behalf of the seller. JLL will contribute its local market and property knowledge to the letting and repositioning of the property.

About Ivanhoé Cambridge

Ivanhoé Cambridge creates lasting impact with its comprehensive urban solutions centred on people's needs. The company develops and invests in high-quality property properties, projects and businesses that shape the urban landscape of dynamic cities around the world. The company takes a responsible and long-term approach to creating long-term returns. Ivanhoé Cambridge is committed to creating living spaces that promote the well-being of people and communities while reducing their environmental impact.

Ivanhoé Cambridge invests internationally alongside strategic partners and market-leading, major property funds. Through its subsidiaries and partnerships, the company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail property sectors. Ivanhoé Cambridge held more than $60 billion CAD in assets as at 31 December 2020 and is a real estate subsidiary of Caisse de dépôt et placement du Québec (cdpq.com), a global investment group.

For more information, please visit: www.ivanhoecambridge.com.

Media contact Germany
Edelman Smithfield
Sven-Matthias Heim
Phone: +49 69 509 546 346
teamivanhoecambridge@edelmansmithfield.com

About URBZ Capital

URBZ Capital (URBZ) is a property boutique and focuses as an investor, asset manager and developer on the urban logistics / last mile segments in the most important cities in the Benelux countries, Germany and Sweden. The company's aim is to exploit the long-term growth opportunities in the next stage of development of the industrial property sector in Europe in the last mile / urban logistics segments, which are currently significantly undersupplied and undefined.

Successful last mile strategies are critical for clients to keep pace with the rapid evolution of the supply chain and well-located, modern last mile space with high ESG criteria is an essential part of these strategies. URBZ therefore sees a tremendous opportunity to create the next generation of sustainable and socially valuable last mile properties that support its customers in efficiently building a carbon-neutral last stage of their supply chain.

Further information can be found at: www.urbzcapital.com