30 May Joint venture acquires Nucleus industrial site at Park Royal

Cadillac Fairview and Boreal IM have acquired Nucleus, an estate of four fully leased warehouses, in Park Royal.

The new West London asset spans almost 130,000 sq ft and is let to a variety of occupiers, including DPD.

The JV also purchased six warehouses in Rotterdam.

Louis-Simon Ferland, founder and partner at Boreal IM, said: “The acquisition of these assets marks the first step in our mandate with Cadillac Fairview.

“We will be focusing on assets across core European locations where fundamentals support outsizes demand for logistics assets.

“Both of these acquisitions have been driven by our focus on making thematic investments by closely analysing macroeconomic trends and identifying paradigm shifts.

“Our aim is to drive long-term returns for our investor and both of these deals have in place the right characteristics to deliver this.”