McDermott Advises on Formation of a Joint Venture to Build a Sustainable Logistics Portfolio
Düsseldorf, August 23, 2023 – McDermott Will & Emery has advised a German family office and evolutiq GmbH on the formation of a joint venture with NREP to build a logistics portfolio in Germany.
evolutiq GmbH and NREP’s logistics real estate development and management platform Logicenters will act as developers and asset managers for the joint venture partners. The first joint project refers to a brownfield development in Mannheim. On an area of approx. 28,000 sqm a green logistics property with approx. 18,500 sqm of rental space is to be built. Completion of the property is planned for Q1/2025.
NREP is the largest real estate investment manager in the Nordic countries with assets under management of around 19 billion euros. The company is considered a pioneer in the field of sustainability. Logicenters was founded by NREP in 2015.
Investment and asset management company evolutiq GmbH focuses on digital and sustainable projects for logistics and office properties throughout Germany.