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GFH Financial Group B.S.C (“GFH” or “the Group”) today announced that Roebuck Asset Management, its majority owned UK-based logistics asset manager, and ICG Real Estate, the real estate business of Intermediate Capital Group (ICG), have formed a Joint Venture (JV) to aggregate an urban logistics / last mile portfolio across Spain. The partnership represents another milestone for GFH as it continues its expansion and the realisation of the Group’s asset management aspirations with a stronger footprint and growing portfolio in Europe

ICG and Roebuck are joining forces to create a last-mile/urban portfolio across Spain, React News can reveal.

The partners have struck a deal to build a €400m portfolio via direct sales or leaseback opportunities. They are aiming to generate a secure income profile by targeting long-income assets in micro-locations across the country.

Alliance in the logistics market in Spain. The British fund Roebuck Asset Management and the Intermediate Capital Group (ICG) real estate fund have formalised a 'joint venture' to create a last-mile urban logistics portfolio with assets spread throughout Spain.

GFH’s UK subsidiary, Roebuck, acquired the asset for $94 million in 2017, providing investors with a total annual return in excess of 16%

GFH eyes new transactions alongside Roebuck in the European logistics market following raft of successful early exits, including Amazon Spain portfolio

With GFH’s backing, Roebuck targets new acquisitions of around $500m over 2022

Exiting after buying the asset in 2017 with a Korean investment partner

Work is underway on the construction of Eddie Stobart’s new, two-unit campus at Daventry International Rail Freight Terminal (Prologis RFI DIRFT).

Roebuck Asset Management has sold a portfolio of last-mile Amazon hubs in Spain for €95m, marking an early exit for the investor.

Roebuck Asset Management and GFH Financial Group have purchased a third last-mile Amazon facility in Spain

Roebuck Asset Management has opened an office in Madrid and named Victor Gregori as Managing Director

BentallGreenOak (BGO) and Mulberry Developments have teamed up to deliver 1.1m sq ft of logistics space for Eddie Stobart in Doncaster.

Roebuck Q&A on a new European logistics focused fund and expansion plans for the team

Roebuck advise long standing client Eddie Stobart on pre let of a new 560,000sq ft warehouse, to provide much needed extra capacity in the face of growing consumer demand

Having acquired the 872,000 sq ft asset for £62m in 2017 and sold for £90m in 2021, Roebuck have delivered exceptional performance for their South Korean partners

London-based pan-European real estate asset manager Roebuck Asset Management has sold an 872,000 sq ft distribution unit near Bristol to Tritax Big Box REIT on behalf of a syndicate of Korean investors for £90m.

Following the acquisition of Roebuck, which will continue to operate independently and be managed by its founders, GFH will add significant expertise in European commercial real estate to the Group and gain strategic access to prime deal flow.

The investment in these assets, which cover an area of c.100,000 sq meters, benefits from strong market fundamentals for logistics and the warehousing sector in general as well as the thriving Spanish e-commerce sector, which continues to witness growth and holds further growth potential.

At the end of 2020 Roebuck successfully disposed of Langley Park Industrial Estate, Chippenham to Schroders Real Estate Investment Trust. The sale concludes a 5 year business plan, implementing various value add strategies

Roebuck Asset Management alongside Hyundai Asset Management has completed the acquisition of Aegon's UK HQ, 1-3 Lochside Crescent, Edinburgh for £133.25m - Scotland's largest commercial property deal of the year.

The Property which comprises of a 125,000 sqm, state of the art logistics warehouse is located 22 kilometres west of Prague in Dobroviz. The facility is leased to e-commerce giant Amazon through 2030 and will be managed jointly by Roebuck Asset Management and an investment vehicle managed by Kendall Square.

Accolade Wines has installed a 2.5MW wind turbine to power its 875,000 sq ft Avonmouth distribution centre near Bristol in the UK