Canadian real estate company Ivanhoe Cambridge is acquiring a logistics asset in Hamburg from South Korean asset manager ADF Asset Management.
The logistics asset with a total area of 114,760 square meters is strategically located in the Ellermöhe Industrial Park near the port of Hamburg, Ivanhoe Cambridge announced. Hence the asset is completely given to H&M Group.
As per the announcement, a number of measures have been taken to improve the ESG performance of the asset. This would include, among other things, the installation of solar cells on the roof, which would enable the development of energy supplies with immediate recording of the energy generated and consumed. Efficient office space, conference rooms and a roof terrace with a high quality of life for the employees are other central components of the utilization concept.
Goal: To triple the logistics portfolio in Europe by 2025
“With the acquisition of this first logistics asset in Hamburg, we are further expanding our presence in Germany, one of the main markets for our growth in Europe,” says Christian Dumann, Head of Germany Investments at Ivanhoe Cambridge . “The growth of the logistics sector is a key focus of our strategy, which specifically aims to triple the size of our logistics portfolio in Europe by 2025. We will therefore continue to build a flexible and diversified portfolio in Europe.”
Ivanhoe Cambridge, hitherto little known in Germany, holds stakes in over 1,100 buildings through its subsidiaries and partnerships, mainly in the industrial and logistics, office, residential and retail real estate sectors. Ivanhoe Cambridge reportedly held assets of over CA$69 billion as of December 31, 2021 and is a real estate subsidiary of Cas de dépt et placement du Québec (cdpq.com), a global investment group.
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