Bridge Industrial and PSP Investments forms $1.4b U.K. logistics JV
Bridge Industrial and the Public Sector Pension Investment Board (PSP Investments) has established a joint venture to acquire and develop logistics properties in the United Kingdom, targeting a portfolio value of £1 billion ($1.4 billion).
The venture has a build-to-core focus, including the acquisition and development of last-mile logistics assets within high-barrier infill submarkets in Greater London and the Midlands region. Bridge will oversee development and the implementation of value-add measures to create state-of-the-art, purpose-built infill industrial assets. The venture will target market-leading sustainability credentials.
“We are excited to form this strategic partnership with PSP Investments as Bridge continues to grow its global portfolio and capital partnerships,” said Sean Zasche, Bridge’s CFO. “Their focus on high-quality, infill real estate and long-term ownership aligns well with Bridge’s business model.”
Bridge’s U.K. operati