Canada’s Ivanhoé Cambridge and URBZ Capital, a new firm formed by former Prologis executives, have revealed details of a first collaboration.
Netherlands-based Urbz said it had made two maiden investments in last mile logistics that are expected to be the first in a series with Ivanhoé Cambridge across key conurbations in the country.
Both assets are located in key infill sites in the Utrecht region. One is a recently renovated 6,700 m2 long term leased facility in Utrecht located in industrial Park, Lage Weide. The second facility is an older 12,200 m2 asset in Nieuwegein that will be subject to a significant renovation programme, bringing the building to modern standards, creating a next generation last mile facility.
Urbz focusses on creating CO2 neutral and “societally accretive” last mile urban real estate in key cities in the Netherlands, Belgium, Germany, and the Nordics.
It said the most immediate need was for sustainable solutions in the cities with high population densities experiencing favourable consumption and demographic growth.
Advisors were JLL for the Nieuwegein asset, and 1530 Real Estate for the investment in Utrecht. AKD Lawfirm, Stevens van Dijck, ERM and Avison Young also advised on both transactions.
Urbz was established at the end of 2020 by Ali Nassiri and Bram Verhoeven.
At Prologis, Nassiri was responsible for the gargantuan Prologis European Logistics Fund (PELF), a €13 bn open-ended logistics property vehicle boasting around 11.8 million m2 of assets across 12 countries in which Prologis owns a 24% stake alongside more than 100 global investors.
Verhoeven was regional head of Northern Europe.