ICG Real Estate Secures £50m in UK Logistics Assets
Deal News | Feb 13, 2025 | Intermediate Capital Group (ICG)
Intermediate Capital Group (ICG) Real Estate has completed four strategic transactions in the UK industrial and logistics sector with a total value of approximately £50 million. The acquisitions are part of ICG's Metropolitan platform's strategy to focus on last-mile industrial and logistics assets, emphasizing mission-critical sites. One significant transaction involved the acquisition of five assets totaling around 600,000 square feet, leased to National Timber Group (NTG) in key urban locations, including Reading, Birmingham, Sheffield, Newcastle, and Hull. These sites have been occupied by NTG for over 30 years. The other three transactions include four assets in Birmingham, Manchester, and Merseyside with robust tenants and long-term lease agreements. Axel Logistics, ICG's urban logistics platform, will manage these assets, which are expected to provide both downside protection and potential for significant reversionary benefits.
Sectors
- Real Estate
- Industrial and Logistics
- Investment Management
Geography
- United Kingdom – The real estate transactions discussed in the article are focused on industrial and logistics assets within various urban locations across the UK.
- Europe – Axel Logistics operates a pan-European logistics platform, and there is a broader European context to the asset management strategy.
Industry
- Real Estate – The article is centred around real estate transactions specifically targeting industrial and logistics assets.
- Industrial and Logistics – The assets involved in the transaction are industrial and logistics properties, emphasizing last-mile capabilities.
- Investment Management – ICG is involved in the management and investment of a diverse portfolio, making investment management a relevant sector.
Financials
- £50 million – The total value of the transactions for UK industrial and logistics assets completed by ICG.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Intermediate Capital Group (ICG) | Purchaser | Company | A leading global alternative asset manager focusing on flexible capital solutions and managing assets worth $107 billion. |
| ICG Real Estate | Division | Company | The real estate division of ICG, focusing on acquiring strategic logistics and industrial assets. |
| Metropolitan | Platform | Company | ICG's platform for last-mile industrial and logistics acquisitions. |
| National Timber Group (NTG) | Tenant | Company | The UK's largest independent timber distributor and processor, using the acquired sites for over 30 years. |
| Axel Logistics | Manager | Company | A specialist urban logistics platform managing the acquired assets. |