For the Singapore venture, LOGOS will continue with its strategy of acquiring and developing high-quality, modern industrial and logistics properties in Singapore with over S$800M in investment capacity. To date LOGOS has acquired interests in three properties, consisting of two multi-storey logistics warehouse facilities and one development site, all of which are fully leased.
For the Indonesia venture, the strategy is to focus on developing and owning high quality, modern logistics properties in Greater Jakarta, Indonesia. The commitments will provide LOGOS with over US$400M in investment capacity. LOGOS has identified a strong pipeline of development opportunities to meet the increasing demand for modern logistics facilities on the back of Indonesia’s compelling macroeconomic fundamentals, rapid e-commerce growth and growing logistics sector.
Concurrent with the establishment of the Indonesia venture, LOGOS is pleased to announce the establishment of an office in Jakarta, expanding LOGOS offices to four countries (Australia, China, Indonesia, and Singapore).
“LOGOS has subsequently established ventures in Singapore and Indonesia which is testament to the growth being experienced in both of these markets and LOGOS’ ability to secure an attractive pipeline of opportunities,” commented John Marsh, Joint Managing Director of LOGOS. “We are also excited that LOGOS is increasingly able to offer its customers a high quality solution across Asia Pacific.”
Stephen Hawkins, Managing Director of LOGOS South East Asia added, “Expanding our relationship with Ivanhoé Cambridge as well as attracting CPPIB into both our Singapore and Indonesia ventures is very exciting. Both Ivanhoé Cambridge and CPPIB are recognised as leading real estate investors around the world.”
“Ivanhoé Cambridge welcomes CPPIB as our co-investment partner with LOGOS in Singapore and Indonesia,” said Rita-Rose Gagné, President, Growth Markets, for Ivanhoé Cambridge. “Increasing our allocation reaffirms our view of the growth potential in Southeast Asia and our confidence in LOGOS as a best-in-class logistics real estate specialist in Asia-Pacific.
“The logistics sector in Southeast Asia continues to grow as a result of the burgeoning middle class and the rise of e-commerce, and presents an excellent opportunity for a long-term investor like CPPIB,” said Jimmy Phua, Managing Director & Head of Real Estate Investments – Asia. “We are looking forward to making our first direct real estate investments in Singapore and Indonesia through well-established, like-minded partners like LOGOS and Ivanhoe Cambridge.
Macquarie Capital (Australia) Limited (together and through its affiliates, Macquarie Capital) acted as exclusive financial adviser to LOGOS for the transaction and as sole lead manager and arranger for both the LSLV and LILV capital raisings.
LOGOS is an integrated investment and development logistics real estate specialist with operations in Australia, China, Indonesia and Singapore. LOGOS currently has approximately AUD$3.0 billion in assets under management including end values for projects under development. For further information: www.logosproperty.com
About Ivanhoé Cambridge
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It does so prudently with a long-term view to optimize risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners that are leaders in their respective markets.
Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in close to 500 properties, consisting primarily in office, retail, residential and logistics real estate. Ivanhoé Cambridge held more than Cdn$55 billion in assets as at June 30, 2016. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers.