Project Grid

Investor spotlight (most likely indicative bidders)

Investor

Key facts

General comments

Deal specific comments

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Recently formed a new JV to aggregate small scale and high-growth industrial and logistics assets on a pan-European basis. Target to acquire ≈EUR 500m of GAV over the next two years (will be mainly capitalised by Starwood).

Origin: USA / UK Investor type: Investment manager / Asset manager

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Can conceptually do a 50:50 split of any LCGT.

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• Key contacts: Miles Chuter (Director, M7) and Michael De Bruyne (Starwood).

Source of funds: New JV AUM: EUR 108bn / 7bn

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A major focus on the Nordics.

Competitive bidder on Project Purple.

• Part of Blackstone’s Core+ investment strategy. • Primarily interested in light industrial and last mile logistics properties. • Ambition to do a swift scale up in the segment. • One of the most active investors within industrial and logistics in Denmark the past couple of years. • Competitive bidder on Project Purple. • JV with Patrizia ( ≈ 98%) as main capital contributor and Broadgate ( ≈ 2%) as active AM. • EUR +300m equity commitment to JV, targeting the Nordic urban industrial and logistics market. • Patrizia’s Trans-European Fund 8 is expected to have first close in Q4. • Already secured seed acquisition of a Swedish light industrial / last mile logistics portfolio (acquired on Patrizias own balance sheet, but will be transferred to Fund 8 once established). • Keystone Investment Management mandated to source Danish industrial and logistics properties for Partners Group with subsequent AM. • Keystone and Partners Group will formally form a JV with the former as minority equity partner. • Ambition to do a swift scale up in the segment and add exposure to the Danish market. • Competitive bidder on Project Purple.

Origin: USA / UK Investor type: Investment manager / Asset manager

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Can conceptually do a 50:50 split of any LCGT.

• Key contacts: Alexander Simon (Managing Director with focus on Nordic opportunities), Francisco Vital (Principal, Blackstone) and Thomas Lauritsen (Country Director Denmark, Mileway).

Source of funds: BPPEH AUM: EUR 939bn / N/A

• Require a value-add return (+15% IRR) for the JV on an aggregated portfolio level. • Eager to scale up and gain significant presence in Denmark and willing to underwrite aggregation yield compression. • Key contacts: Michael Fynbo (Head of Danish Transaction, Patrizia), Jörg Laue (Nordic Head of Transactions, Patrizia) and Richard Wollter (CEO, Broadgate).

Origin: Germany / Sweden Investor type: Investment manager / Asset manager Source of funds: Trans-European Fund 8 (value-add) AUM: EUR 58bn / N/A

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IRR-target of +15%.

Origin: Switzerland / Denmark Investor type: Investment manager / Asset manager Source of funds: Value-add vehicle AUM: EUR 135bn / EUR 4bn

• Scale and location might lower target as Nordic exposure is sought after to diversify fund allocation. • Can conceptually do a 50:50 split of any LCGT. • Key contacts: Johan Johanssen (Partners Group) and Thomas Mølhave (CIO. Keystone).

Colliers| Proposal for advisory services | 23