Transaction marks BentallGreenOak’s sixth logistics acquisition in as many months
London (March 17th, 2021) – BentallGreenOak (BGO), a leading global real estate investment management advisor and provider of real estate services, and its development partner, Equation Properties, are pleased to announce the acquisition of a 60-acre development site in the South-West’s leading logistics location, Avonmouth.
The site benefits from existing planning consent and is close to Bristol’s key transport links. It will be developed by BGO and Equation across three phases with units ranging from 40k sq.ft. to 560k sq.ft and the first units will be completed by the summer of 2022.
This transaction further cements BGO’s position as one of the most active players in the European logistics market. While it has been operating in this space for many years, in the past six months alone the firm has executed five transactions to acquire standing assets and development land to deliver a combined 5m sq.ft of UK logistics space. This includes the acquisition, made in partnership with Equation, of Orwell Logistics Park, Felixstowe, for the development of 1m sq.ft. of logistics space.
Toby Phelps, Managing Partner and Head of European Equity at BentallGreenOak, said: “Since we started investing in the logistics sector in 2015, we have not seen a market environment with such compelling fundamentals. The COVID pandemic has accelerated certain behaviours, such as consumer reliance on e-commerce, which mean that these assets are now in higher demand than ever. As one of the most experienced owners and operators of logistics property in Europe, we are focused on owning and developing state-of-the art assets to meet this demand and delivering sustainable risk-adjusted returns for our investors.”
JLL and BCLP advised the seller, with Avison Young and Taylor Wessing advising the buyer.
BentallGreenOak is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $53 billion USD of assets under management (as of December 31, 2020) and expertise in the asset management of office, logistics, multi-residential, retail and hotel property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients.
In Europe, BentallGreenOak is a leading investment manager with over 50 professionals and $5.2 billion USD in AUM across debt and equity, with strategies spanning from Core to Value-Add and Development, with its own internalised operating capability. The firm has acquired or developed over 150 logistics assets comprising 5.1 million square meters (55 million square feet) since 2015. BentallGreenOak’s investment vehicles have assembled a large and diversified land bank across Europe, currently owning or controlling over 1,000 acres of land (capable of building over 23 million square feet of space) zoned for Logistics, Data Centers and Cold Storage.
BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.
For more information, please visit www.bentallgreenoak.com
About Equation Properties
Established in 2014, Equation Properties is a versatile property development and investment company, focused primarily on development in the distribution and industrial sector. Since inception, Equation has delivered over 1m sq ft of industrial/logistics developments. As of January 2021, Equation Properties has 3.3 million sq ft in its active and secured portfolio, with an accumulative value of over £500m.
For more information, please visit www.equationproperties.com