Press Release – 90 North completes fourth warehouse exit delivering superior risk-adjusted returns to investors
90 North completes fourth warehouse exit delivering superior risk-adjusted returns to investors
90 North Real Estate Partners LLP (”90 North”), headquartered in London, has completed the sale of a Volkswagen logistics centre in Germany for €52M.
The sale follows three previous exits in Norway and UK with properties let to L’Oréal, Siemens PLC (both in UK), and Onninen (Norway) – a total of approximately €145M.
Nick Judd, Founder Partner and Head of Investment at 90 North, which advised on the properties over their investment period commented:
“Following the VW exit the weighted average IRR delivered to Limited Partners on the completed sale of these four warehouse investments is approximately 14.5% (13.4% post-performance promote) including very attractive quarterly income distributions. Naturally we are delighted with the very profitable outcome of these investments which demonstrates the quality of our advice and asset selection”.
90 North is constantly appraising new warehouse investments across the geographic spectrum, mindful of the pitfalls of this very diverse and fast moving investment sector.