Canadian real estate firm Ivanhoé Cambridge buys a logistics property in Hamburg from South Korean property manager ADF Asset Management.
The logistics property, with a total area of 114,760 square meters, is strategically located in the Alarmohe Industrial Park near the port of Hamburg, Ivanhoe Cambridge announced. The property is therefore fully leased to the H&M Group.
According to the announcement, several measures have been taken to improve the ESG performance of the property. This includes, among other things, the installation of solar cells on the roof, which help to create an energy distribution by immediately recording the energy generated and consumed. Efficient office space, conference rooms and a rooftop terrace with a high quality living space for staff are other central elements of the utility concept.
Target: Triple the logistics portfolio in Europe by 2025
“With the acquisition of this first logistics property in Hamburg, we are further expanding our presence in Germany, one of the key markets for our growth in Europe,” says Christian Damon, Germany’s Investment Head at Cambridge. “The growth of the logistics sector is at the heart of our strategy, which aims to triple the size of our logistics portfolio in Europe by 2025, so we will continue to build a flexible and diversified portfolio in Europe.
Ivanhoe Cambridge, hitherto less well known in Germany, holds shares in more than 1,100 buildings through its subsidiaries and partnerships, primarily in the industrial and logistics, office, residential and retail real estate sectors. Ivanhoé Cambridge is said to have assets of more than CA $ 69 billion as of December 31, 2021, and is a real estate subsidiary of the global investment group Caisse de dépôt et placement du Québec (cdpq.com).
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