ICG Real Estate announces Metropolitan Last Mile industrial platform

ICG Real Estate has announced the formation of Metropolitan Last Mile, its distribution and industrial platform focused on major urban population centers across the United Kingdom, France and Germany.

During the past nine months, Metropolitan has acquired 35 assets in the three countries via eight separate transactions, with a total gross asset value of more than €500 million ($540 million). The portfolio has been acquired in a repriced market environment through off-market and special situations.

Approximately 65 percent of Metropolitan’s assets are located in London, Paris and Berlin — cities with significant supply and demand tension and demonstrable rental growth potential. The portfolio is fully leased and offers significant value creation opportunities through densification and rental reversion through active asset management.

Metropolitan has received strong backing from leading global institutional investors, placing the platform in a favorable pos