The Fund pays out half a billion$ for properties in France

The Caisse de dépôt et placement du Québec (CDPQ) intends to take advantage of the growth of e-commerce by putting the hand on several large properties in France for more than a half-billion dollars.

“As we firmly believe in the growth of e-commerce in the future, we have chosen to seize this opportunity to accelerate our shift in the logistics sector “, explained to the Journal Sylvain Théberge, a spokesman for Ivanhoé Cambridge, the real estate subsidiary of CDPQ.

Industry and logistics

This first transaction of Ivanhoe Cambridge in 2020 is a set of 17 industrial properties, and logistics with a total area of 4.6 million ft2 in the regions of Paris and Lyon, in France. This is the equivalent of an area of approximately 70 football fields, laid side-by-side.

At the same time, Ivanhoe becomes the owner of the mark the Hub&Flow, developed previously by the Carlyle Group, a major us investment listed on the Nasdaq. In addition to real estate, this last work in the sectors of energy, defence and aerospace industries.

According to our information, the Fund will have paid “more than $ 500 million” to acquire this real estate, intended for the essential operations of logistics related to e-commerce.

While refusing to confirm the amount of the transaction, the management of Ivanhoe did not deny its importance, calling it even ” strategic “. “This strategic operation is the first of a new phase of expansion in continental Europe “, said by way of a press release Karim Habra, CEO of Ivanhoe Cambridge for Europe and Asia-Pacific.

Ultimately, the objective of the Fund is the creation of a ” logistics platform leading in Europe “, a value intended to achieve the ” two billion euros “, or 2,92 G$ CA, according to a press release issued yesterday.

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