Brookfield Announces Creation Of New Brand For $3.5B Global Logistics Property Platform
NEW YORK--(BUSINESS WIRE)--
Brookfield, one of the world’s largest owners, operators and investors in best-in-class real estate around the globe, has today announced the creation of a new brand for its $3.5 billion global logistics property platform.
The companies, to be known as IDI Gazeley, part of Brookfield Logistics Properties, form the consolidated branding of Brookfield’s key logistics assets – Industrial Developments International (“IDI”) and Gazeley – under a single brand identity. These are two of the world’s best-known and most successful developers of sustainable logistics warehouses and distribution parks. All IDI and Gazeley sites globally will be rebranded IDI Gazeley as part of the initiative.
IDI, a leading owner and operator of industrial distribution facilities across North America since 1989, is the result of two acquisitions by Brookfield and its institutional partners in December 2012 and August 2013. Gazeley, the world’s longest running, specialist developer of logistics warehouses and distribution parks with assets in key strategic locations in the UK, Western Europe and China, was acquired by Brookfield and its institutional partners in June 2013.
Since the acquisitions by Brookfield, both IDI and Gazeley have made significant progress and delivered notable successes in their respective markets. Recent highlights include:
- The commencement of a new 938,000-square-foot (87,000 square-meter) national distribution center leased to a major U.K. supermarket retailer at Gazeley’s flagship U.K. development site, Magna Park Milton Keynes.
- The construction of a 670,680-square-foot (62,308 square-meter) e-commerce build-to-suit facility for ULTA Beautyat Southpoint Business Park in Indianapolis.
- The completion of a 690,000 square-foot (64,000 square-meter) regional distribution center for a leading global sports retailer at Magna Park Baoldi in North China. This project follows the early completion of a similar project in Germany for the same customer.
- The signing of a 631,000 square-foot (59,000 square-meter) lease to a major e-commerce company at Park South in the Cincinnati market.
- The commencement of a 600,000 square-foot (56,000 square-meter) national distribution center for a global toy retailerin Paris, France.
- The signing of a 412,808 square-foot (38,351 square-meter) lease to a leading technology-focused e-retailerat World Connect @Ameriplex in Indianapolis.
- The signing of a 467,000 square-foot (43,000 square-meter) deal in the Atlanta market with a leading developer, manufacturer and distributor of medical equipment for respiratory disorders.
Under the new brand, IDI Gazeley will bring together its diverse customer community drawn from across the fast moving consumer goods (FMCG)/retail, transport and logistics, automotive, industrial, pharmaceutical and manufacturing sectors.
IDI Gazeley will collectively own and operate a global industrial property portfolio across nine countries including the USA, Canada, UK, France, Germany, Italy, Spain, Mexico and China.
As of May 28, 2014, this included approximately 58 million square feet (5.4 million square meters) of assets currently under management and occupied industrial warehouse space, with prime land sites to develop an additional 68 million square feet (6.3 million square meters) of distribution facilities. Of this, 17 million square feet (1.58 million square meters) of development is currently scheduled for 2014.
To date, IDI Gazeleyhas developed in excess of 228 million square feet (21 million square meters) of sustainable warehouse space for over 900 customers worldwide.
Ric Clark, Chief Executive Officer of the Brookfield Property Group, commented, “We are very excited by the tremendous opportunities that the launch of the global IDI Gazeley brand will bring across our industrial portfolios for our investment partners and our customers.
“The collective brand will have scale, experience and the backing of a strong parent. We intend to grow the platform rapidly by leveraging global customer relationships, pursuing attractive opportunities in key markets and developing our premier land bank.
“Brookfield’s experience in managing and developing property assets globally, coupled with IDI Gazeley’s already enviable long-term track record, positions the new brand for long term growth. Additionally, with an improving global economic backdrop, evolving supply chains, growth of e-commerce, increasing emerging market consumption trends, we expect to see significant opportunities for growth in the high-quality logistics sector.”
Jay Cornforth, Global Head of Industrial for the Brookfield Property Group, also commented, “This is a natural evolution of our emerging logistics business and will create synergies between these two best-in-class organizations. This move will be particularly helpful to our customers around the world who will benefit from a greater choice of assets and locations globally, accessible through a single point of contact. Our collective platforms allow us to provide an improved service offering to our existing client base, which includes many of the world’s leading brands and most successful companies, as well as potential new clients who are looking for a truly global proposition tailored to their specific needs.”
Notes to editors
About IDI Gazeley
IDI Gazeley constitute one of the largest global players in the logistics property sector with 58 million square feet of premier assets and prime land sites to develop an additional 68 million square feet of distribution facilities near major markets and transport routes in North America, Europe, and China. Under the Brookfield Logistics Properties umbrella, they are a part of one of the world’s largest and most sophisticated owners, operators and investors in real estate, infrastructure, renewable power, and private equity.
For information, please visit www.brookfieldlogisticsproperties.com
About Brookfield Property Group
Brookfield Property Group is one of the world’s largest real estate asset managers, with over $105 billion of assets under management held in its flagship listed public entity, Brookfield Property Partners, as well as a series of private real estate funds. Brookfield Property Group provides strategic and asset management oversight over a diverse pool of real estate investments, made up of sector-specific portfolios in the office, retail, multifamily, industrial and hotel sectors totaling over 350 million square feet.
Copyright Business Wire 2014