Valor Real Estate Partners, the pan-European logistics platform , and QuadReal Property Group have formed a joint venture to invest £1bn in urban logistic assets located in key UK, French and German cities.

QuadReal will be the majority investor in the JV, which will have initial capital commitments of €440m (£397m), which with leverage, will provide in excess of €1bn of investable capital.

QuadReal manages more than 75m sq ft of industrial buildings across North America, Europe and Asia Pacific. Valor - having grown a €1bn pan-European portfolio of prime urban logistics assets in just four years - will be responsible for sourcing and managing the portfolio.

The JV will focus primarily on 'last-mile' logistics assets located in the greater metropolitan areas of London, Paris and Berlin, with a secondary focus on major UK and EU gateway cities, such as Manchester, Lyon and Frankfurt.

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