BMO Real Estate Partners expands European Logistics mandate with additional €200m PFA Pension allocation

New total investment capacity of over €400m

 

PARIS, 14 December 2021 – BMO Real Estate Partners (BMO REP), the pan-European property investment and asset management specialist arm of BMO Global Asset Management (EMEA), has expanded its European Logistics mandate with an additional €200m allocation from PFA Pension, allowing for a total investment capacity of over €400m.

 

PFA Pension is one of the largest pension providers in Denmark.

 

The mandate began in July 2019 with an initial equity commitment of €100m focused on value-add and core+ logistics developments in France. Initial acquisitions included two properties in Bassens, next to the port of Bordeaux, a cross-docking facility in Corbas, Lyon, and the renovation of a last-mile logistics warehouse in Fretin, Lille.

 

Following the successful deployment of the initial capital, the mandate has been increased with an additional €200m equity commitment to include Core, Core+ and Value-Add investment opportunities across Continental Europe with a focus on France, Spain and Italy.

 

The two mandates, including leverage, allow for a total investment capacity of over €400m.

 

The strategy will be to source, acquire and manage a combination of standing logistics properties and manage-to-core / build-to-core investments located near city centres, ports and airports or within established logistics clusters. Moreover, the focus will be on Urban Warehouses, Cross-Docking facilities and Grade-A warehouses with single or multi-tenant occupancy, offering an attractive diversification of locations and occupiers.

 

Ian Kelley, Managing Director, Head of France, Benelux and Southern Europe at BMO REP said, “Our partnership with PFA Pension is a strong endorsement of our tailored service offering and ability to invest across the entire risk spectrum within the logistics sector and in multiple geographies. Having deployed the initial tranche of capital efficiently, through the sourcing of off market opportunities via our deep network of market relationships, the investments have outperformed with successful leasing initiatives illustrating our expertise and the capabilities of our team. We look forward to continuing this track record with the extended mandate.”

 

-Ends-

 

Media Contacts:

 

BMO Global Asset Management

Campbell Hood

[email protected]

Tel: +44 (0) 20 7011 4243

 

FTI Consulting

[email protected]

Tel: +44 (0) 20 3727 1888

 

About BMO Real Estate Partners

BMO Real Estate Partners is a direct real estate specialist with €7.7 billion of AUM[1] across core European markets. It is a key part of BMO Global Asset Management (EMEA)’s Alternatives offering, employing more than 140 staff, including more than 20 investment managers and over 25 asset managers overseen by a highly experienced and well-regarded management team.

 

BMO Real Estate Partners has a strong localised presence with offices in London, Paris and Munich, as well as on-the-ground reach in core European markets.

 

BMO REP’s focus is to create and manage successful property investment portfolios for our clients and sustainable properties that work for our occupiers.

 

About BMO Global Asset Management (EMEA)

 

BMO Global Asset Management (EMEA) is part of Columbia Threadneedle Investments, a leading global asset management group that provides a broad range of actively managed investment strategies and solutions for individual, institutional and corporate clients around the world.

 

Together BMO Global Asset Management (EMEA) and Columbia Threadneedle Investments have more than 2500 people, including over 650 investment professionals based in North America, Europe and Asia[2]. We manage £530bn / €617bn / US$714bn[3] of assets across equities, fixed income, multi-asset, solutions and alternatives.

 

Columbia Threadneedle Investments is the global asset management group of Ameriprise Financial, Inc. (NYSE:AMP), a leading US-based financial services provider, which has total assets under management and administration of more than $1.3 trillion[4].  

 

BMO Global Asset Management (EMEA) is a signatory of the United Nations-supported Principles for Responsible Investment initiative (UNPRI).

 

[1] Assets Under Management (AUM) reported as at 30 September 2021 and includes both discretionary and non-discretionary assets
[2] As at 8 November 2021, Columbia Threadneedle Investments including BMO GAM (EMEA)
[3] As at 30 September 2021
[4] As at 30 September 2021

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