Brookfield Asset Management and Copley Point Capital have acquired three warehouses at Heathrow Airport, London.
The three grade A units totalling 220,000 square feet are on the Polar Park estate. They are used as critical air cargo logistics hubs by tenants DHL, Circle Express and Air Menzies.
The three warehouses at Heathrow Airport possess bonded status. This allows goods to be pre-cleared for aircraft loading before arriving at the airport.
These acquisitions follow the recapitalization of three big-box distribution warehouses by Brookfield and Copley Point in March. The 1.4 million square foot portfolio consisted of three Grade A assets in Skelmersdale, Knowsley and also Worksop. They are fully leased and well-positioned to benefit from long-term fundamentals.
Nimit Oberoi, Managing Director at Copley Point says, “We are delighted to gain exposure to the highly undersupplied Heathrow market with assets that are well suited for both national distribution and airport-related logistics. We look forward to adding value to these assets by implementing ESG improvements and capturing the inherent rent reversion.”
Alexis Prevot, Managing Director at Brookfield Real Estate Solutions says, “This marks our fourth acquisition through our UK mission-critical warehouse joint venture with Copley Point and our eighth investment in Europe through Brookfield’s real estate sponsor solutions strategy. We will continue to offer solutions to sponsors across all real estate asset classes, with these three distribution warehouses an example of the type of high-quality, well-located
assets that we will continue to target across Europe.”
Copley Point is a principal investor and asset manager of UK real estate and related real assets. It has more than £500 million of assets under management.
Brookfield Asset Management is a leading global alternative asset manager with approximately $850 billion of assets under management across real estate, infrastructure, renewable power and transition, private equity and also credit.
