Moorfield and Peloton set up open storage logistics business in UK | New
Moorfield Group and Peloton Real Estate have joined forces to invest in open storage logistics facilities in the UK.
Moorfield, which invests on behalf of its Moorfield Real Estate Fund V, is the majority investor in the joint venture. Peloton will be primarily responsible for identifying acquisitions and operating the portfolio.
The newly created business, which plans to build an initial portfolio of £100m (€118.2m), has invested £4m to acquire an 11.4-acre site in Garston, Liverpool as first asset.
The pair said the open storage business will “focus on assembling a geographically and professionally diverse portfolio” of locations, with the aim of “generating a secure income profile”, while adding value through active asset management initiatives.
Chris Perera, Chief Investment Officer at Moorfield Group, said: “As an established asset manager with multi-sector experience and a UK-wide footprint, Peloton is the ideal fit for us as a partner. strategic. Factors such as very affordable rental levels and favorable underlying market dynamics, including an acute imbalance between supply and demand, make it both a very defensive and growth asset class.
“The partnership builds on our experience of pioneering institutional investing in less established sectors, which are supported by demographic and technological trends, alongside top performers.”
Nick Okell, chief investment officer at Peloton Real Estate, said open storage logistics is an “extremely valuable and fast-growing subsector” of the industrial market and critical to supporting the growth of the economy.
“We look forward to bringing together a portfolio diversified by location, size and tenant, seeded by this attractive acquisition.”
David Tyson, director of asset management at Peloton Real Estate, said the acquired site is close to major transport infrastructure, including Garston Docks and Liverpool John Lennon Airport, as well as a number of major businesses manufacturers such as JLR and Ford.
“Open pit storage land is in short supply, and this acquisition provides a much-needed resource to support the expansion of these businesses.”
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