Creation of a joint venture to target industrial and urban logistics assets
Barwood Capital Ltd and Caisson Investment Management have formed a joint venture to target multi-tenant industrial and urban logistics assets in UK regions.
The company, known as BCCIM, entered into an initial deal with Merseyside Pension Fund for its Urban Industrial Income Limited Partnership (UII), a seven-year vehicle that invests in multi-location industrial and urban logistics assets in regional locations across the UK, allowing for the purchase of £ 30-40million of assets.
He also bought his first asset, Rushock Trading Estate in Droitwich, for £ 12.7million and is pursuing new opportunities.
BCCIM is in talks with a number of investors for further fences in 2021 to increase the size of the vehicle.
Danielle Sheppard, Senior Director of Investments at Barwood, said: “BCCIM is an exciting new joint venture between two well-known UK real estate companies with a similar philosophy and culture.
“It brings together Barwood’s investment management experience and knowledge while incorporating Caisson’s specialized asset management expertise. We have already worked well together in our Barwood 2017 fund and look forward to continuing to be successful in UII.
“Industrial property is in both Barwood’s and Caisson’s DNA and UII is a way to bring our expertise to investors looking to invest in the multi-tenancy and urban logistics sub-sector by offering them a high income and return on capital. “
James Ward, Director of Asset Management at Caisson, added: “This sector has proven its resilience through the 2020 Covid-19 pandemic with strong rental collection and continued growth in the number of occupants and occupants. rents.
“This new joint venture will allow us to take advantage of the smaller end of the market where the largest pools of capital find it difficult to invest and manage without an industry expert.”
BCCIM was advised by Oliver Thompson of TDB Real Estate.
Rushock Trading Estate was acquired from Hovi, represented by Chris Bampton at BSB.