Abu Dhabi-based real estate developer Aldar Properties has teamed up with global investment firm Carlyle to invest $111m (Dh407.65m) in logistics and storage sites in Europe.
The new partnership allows Aldar to invest in the Carlyle Europe Reality (CER) platform, Carlyle’s real estate portfolio across Europe. In addition, the deal gives Aldar a majority stake in a co-investment platform, which includes 14 warehouses spread out across different logistics hubs in the UK.
The portfolio managed by Carlyle contains 900,000ft² of gross leasable area and is fully occupied with substantial reversion potential.
“Aldar is pursuing a programmatic, themed investment strategy in Europe, building key relationships that will support growth in the coming years,” said Talal Al Dhiyebi, group CEO of Aldar Properties. “In partnering with Carlyle, an established player in European real estate, we are gaining quality access to a real estate segment that offers high yield and steady capital growth while also gaining the opportunity to bring our expertise to bear. These newly acquired assets will anchor our logistics business as we continue to explore opportunities, locally and internationally, to build further scale in the coming year.”
The latest investment plans come after, in August last year, Aldar partnered with AD Gaming, the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), and several other companies to launch Yas Island, a virtual environment in the metaverse. The experience enables users to ride, for instance, the world’s fastest rollercoaster at Ferrari World or drive a race car on a virtual F1 track at Abu Dhabi’s Yas Marina Circuit.
Marc-Antoine Bouyer, head of Carlyle Europe Realty, added: “We are delighted to enter into a strategic partnership with Aldar and look forward to benefitting from the firm’s well-established real-estate capabilities and proven development and asset management expertise. We are excited by the opportunity to continue working alongside Aldar to identify development and acquisition opportunities that help scale our platform.”
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