Ropes & Gray has advised QuadReal Property Group – a Canadian-headquartered real estate investment, development and management company – on the recent upsize and extension of the European logistics development platform, Continental Development Partners I (CDP I), sponsored by global logistics operator, GLP.
The upsize sees QuadReal make an equity commitment to CDP I of €800m and CDP I increase its projected AUM to €4bn. As well as GLP, as sponsor and manager, QuadReal is invested alongside Canada Pension Plan Investment Board (CPPIB) as a major investor, with a €900m equity commitment.
CDP I was established in 2018 to target logistics developments in Continental Europe, including Germany, France, Italy, Spain and the Netherlands. This extension sees the fund add high-quality logistics developments in the UK and Central and Eastern Europe to its investment targets.
The Ropes & Gray team – all members of which are based in London – was led by private equity real estate counsel Will Bryant, with private equity real estate associate David Broome and tax counsel Chris Agnoli.
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