Investec Bank has announced that Investec REALIS, the equity strategy that it launched last year, has formed a joint venture with Kier Property, a property development company, to develop £400 million ($506 million) gross development value of urban logistics assets across England.
The joint venture builds on Investec’s longstanding relationship with Kier and is the third between the two parties, and the first under the REALIS structure. Under one of their previous joint ventures, Logistics City and Trade City, Investec and Kier Property successfully completed 13 urban logistics developments across the United Kingdom.
The joint venture has secured its first site with the off-market acquisition of a 4.4-acre former office site in Hemel Hempstead, Hertfordshire, which will be redeveloped into a seven-unit Trade and Logistics City scheme, providing 87,000 square feet of modern industrial space.
In line with an objective of the joint venture and Kier Property’s
