Ivanhoe Cambridge acquires Hub&Flow, a portfolio of 17 logistics assets across major Paris and Lyon hubs, from The Carlyle Group
Paris, February 5, 2020 - Ivanhoe Cambridge has acquired a 430,000 meter squared logistics portfolio and the "Hub&Flow" brand from The Carlyle Group following a call for tenders. The deal represents one of the largest portfolio transactions concluded in recent years in the French logistics market.
This portfolio of 17 high-quality assets meets key market expectations in several ways, including in terms of surface area (10,000 to 40,000 m²), technical specifications or location.
The sale of the portfolio closes Carlyle’s successful development of Hub&Flow, a leading French logistics platform, which benefited from the strong fundamentals within the European logistics space and rapidly growing e-commerce demand. The platform’s growth was further accelerated through 5 build-up transactions and an active asset management strategy which increased occupancy from 75% to 85%.
Peter Stoll, Managing Director and Head of the Carlyle Europe Real Estate team, said: "We are delighted to have been able to work with Ivanhoe Cambridge on the sale of the Hub&Flow portfolio. This transaction marks the culmination of a major acquisition and asset management effort, resulting in an institutional-quality logistics portfolio focused on the Paris and Lyon markets and benefiting from a buoyant market environment in which we intend to remain active.”
For Ivanhoe Cambridge the acquisition builds on their major operations in logistics platforms in North America, Latin America and Asia-Pacific, and the creation of PLP, an operating platform in the United Kingdom.
Karim Habra, Managing Director for Ivanhoe Cambridge Europe and Asia-Pacific, added: "This strategic investment marks a new chapter of our expansion in continental Europe with the aim of creating a leading logistics platform focused on the key European hubs."
The Hub&Flow portfolio was sold by funds advised by Carlyle.
Carlyle was advised by DLA Piper, Attal & Associates, Darrois Villey Maillot Brochier and PWC for this transaction and Alkatroll, CBRE, Expansion, and Cogestra acted as advisors on strategy and asset management. HSBC provided financing for the portfolio.
Ivanhoe Cambridge was advised for this transaction by Panhard (Michael Vidamant), BNP (Frank Perochain), Etyo (Vincent Rigal), Gide (Hugues Moreau), Allez & Associés (Nathalie Filbet), Lacourte Raquin Tatar (David Sorel) and EY.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $224 billion of assets under management as of December 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 32 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle
The Carlyle Group
+44 (0)20 7894 3561 / +44 7917804245