UK Last Mile Logistics Venture

NW1 Partners and Marchmont Investment Management have launched a £100m fund focused on urban industrial property.
NW1 Partners/Marchmont UK Last Mile Logistics Venture has completed its first close and acquired three properties in Greater London.
The acquisition strategy centres on small urban industrial assets worth £3m to £10m in London and other major UK cities.
Citing growing occupier demand for small urban industrial assets, NW1 and Marchmont said they planned to take advantage of the strength of the ecommerce and third-party logistics markets.
“We believe there is significant opportunity in the UK urban industrial space and are excited to be executing upon opportunities in this market with Marchmont,” said NW1 managing director David Boyle.
“Building institutional-grade portfolios through focused, regionalised investment strategies is part of our wider NW1 approach, so this latest venture represents a continuation of our business plan.”
Marchmont director Tim Lumsdon added: “Having transacted extensively in the UK urban logistics market to date, we view this programmatic partnership with NW1 Partners as the next exciting step in the evolution of our business.”
NW1, which is backed by Delancey, is acting as the investment adviser to the venture and is responsible for approving all major real estate decisions. The firm was launched last year by Boyle and Brad Beanblossom to target small value-add property investments in the US, the UK and Europe.
Marchmont will be the dedicated local operating partner, tasked with sourcing investment opportunities and carrying out the day-to-day business and asset management plans.
In January last year, Marchmont launched its first fund targeting the UK urban logistics market and appointed former Brockton Capital and TH Real Estate fund manager Cameron Fraser to spearhead the strategy.

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