Maroc - REITREPORT.CA - A La Une - 04/Sep 03:06

Newlands Property Group Completes Strategic Acquisition of Equites Property Fund’s Interests, Strengthening UK Logistics Development Portfolio

LONDON--(BUSINESS WIRE)--Newlands Property Group Limited (NPGL) has successfully acquired Equites Property Fund’s (JSE:EQU) interests in the Equites Newlands Group Limited development platform. This phased acquisition encompasses the following key steps: Acquisition of Special Purpose Vehicles: NPGL has acquired SPVs holding interests in logistics development projects located in Cambridge, Rushden, Junction 16 (Northampton), and Junction 24 (Nottingham). Granting of an Option: NPGL has secured an option to acquire all shares in the SPV that holds an interest in a development project near Thrapston, Northamptonshire. Additional SPV Acquisitions: NPGL will acquire SPVs with interests in projects near Egham, Peterborough, and Goldthorpe, contingent upon meeting specified conditions. Meanwhile, the development projects near Newport Pagnell, Basingstoke, and Coton Park remain under the joint control of NPGL and Equites Property Fund. NPGL, a joint venture formed in March 2024 by the management of Newlands Developments and Forum Partners, is a fully integrated platform that will drive the acquisition, development, operation, investment management, and property management of logistics and industrial projects across the UK, with a strategic focus on the Midlands and the South East of England. This partnership builds on Forum Partners' previous investment in Roxhill Developments, Newlands’ predecessor platform. Russell Platt, CEO of Forum Partners, commented: “We are thrilled to complete this phase of our investment in Newlands Property Group. This acquisition strengthens our relationship with the Newlands team, allowing them to secure strategic assets from their previous partner, Equites. The agreement also sets favorable terms for three projects where Newlands and Equites will remain co-investors. With one of the largest land banks of strategic logistics sites in the UK, Newlands is well-positioned to capitalize on current market dynamics.” Graham Pardoe, CEO of Newlands Developments, added: "We are thrilled to have partnered with Forum once again to acquire these strategic land options and development sites. Our experienced team is on the verge of bringing key logistics sites to market. With our extensive land bank, we are well-positioned to meet growing demands and drive further significant investment into the logistics sector.” About Forum Partners: Forum Partners is a global investment manager focused on investing in real assets and best in class real estate companies. Since its establishment in 2002, Forum has deployed approximately $7.7 billion of capital across 24 countries and over 100 investments. Forum operates regional offices in North America, Europe, and Asia Pacific. About Newlands Developments: Newlands Developments is a leading developer and operator of industrial and logistics projects across the UK. Founded in 2018 by the former senior management team of Roxhill Developments, Newlands management has delivered over 37 million square feet of space for blue-chip clients such as DHL, Howdens, Nestlé, H&M, Amazon, and Evri. Their current pipeline includes 15 million square feet of prime logistics space across more than 10 UK projects. Contacts Nancie Wilson Investor Relations Forum Partners Nancie.Wilson@forumpartners.com The post Newlands Property Group Completes Strategic Acquisition of Equites Property Fund’s Interests, Strengthening UK Logistics Development Portfolio appeared first on REIT REPORT.