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Sign in Sign up for a FREE subscriptionPLP closes second U.K. develop-to-core logistics venture
PLP has closed its second U.K. develop-to-core logistics venture (UKLV2). The new venture, which has more than £750 million (€877 million/$920 million) of investment capacity, will focus on developing PLP’s deep pipeline of logistics real estate opportunities.
Once capital is deployed, PLP’s assets under management are expected to be more than £2.5 billion (€2.9 billion/$3.1 billion).
The UKLV2 investment vehicle has been capitalized by majority investor Ivanhoé Cambridge, Peel L&P and Greater Manchester Pension Fund, alongside an investment from PLP for enhanced alignment.
UKLV2 follows the success of PLP’s first investment vehicle, UKLV1, to which Ivanhoé Cambridge, Peel L&P, Macquarie Asset Management and senior management committed £500 million (€585 million/$614 million) of equity to develop more than 10 million square feet of prime logistics space.
The venture’s develop-to-hold strategy will deliver high-quality large-scal
