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Abu Dhabi’s biggest developer, Aldar Properties PJSC, has invested 407 million dirhams ($111 million) in logistics and storage assets in Europe through a partnership with global investment firm Carlyle, as it pursues its global expansion plans.
Aldar will make a commitment to the Carlyle Europe Realty platform, the company’s pan-European real estate strategy, alongside a majority stake in a co-investment platform, which includes an income-producing portfolio of 14 warehouses located across key logistics hubs in the UK, the developer said in a statement on the Abu Dhabi Securities Exchange on Thursday.
The portfolio, which is managed by Carlyle, comprises 900,000 sq ft of gross leasable area (GLA), Aldar said.
Aldar has also invested alongside Carlyle and other investors into a portfolio of self-storage facilities and development sites in Western Europe.
Aldar CEO Talal Al Dhiyebi said: "In partnering with Carlyle, an established player in European real estate, we are gaining quality access to a real estate segment that offers high yield and steady capital growth, while also gaining the opportunity to bring our expertise to bear."
(Writing by Brinda Darasha; editing by Seban Scaria)
