Brookfield creates new brand for USD3.5bn logistics platform
Real estate investment specialist Brookfield has created a new brand for its USD3.5bn global logistics property platform.
The companies, to be known as IDI Gazeley, part of Brookfield Logistics Properties, form the consolidated branding of Brookfield’s key logistics assets – Industrial Developments International (IDI) and Gazeley – under a single brand identity.
All IDI and Gazeley sites globally will be rebranded IDI Gazeley as part of the initiative.
Gazeley, the world’s longest running specialist developer of logistics warehouses and distribution parks with assets in key strategic locations in the UK, Western Europe and China, was acquired by Brookfield and its institutional partners in June 2013. IDI, an owner and operator of industrial distribution facilities across North America since 1989, is the result of two acquisitions by Brookfield and its institutional partners in December 2012 and October 2013.
Under the new brand, IDI Gazeley will bring together its diverse customer community drawn from across the fast moving consumer goods (FMCG)/retail, transport and logistics, automotive, industrial, pharmaceutical and manufacturing sectors.
IDI Gazeley will collectively own and operate a global industrial property portfolio across nine countries including the US, Canada, UK, France, Germany, Italy, Spain, Mexico and China.
This includes approximately 58 million sq ft (5.4 million sq m) of assets currently under management and occupied industrial warehouse space with prime land sites to develop an additional 68 million sq ft (6.3 million sq m) of distribution facilities. Of this, 17 million sq ft (1.58 million sq m) of development is currently scheduled for 2014.
To date, IDI Gazeley has developed in excess of 228 million sq ft (21 million sq m) of sustainable warehouse space for over 900 customers worldwide.
Ric Clark, chief executive officer of the Brookfield Property Group, says: “We are very excited by the tremendous opportunities that the launch of the global IDI Gazeley brand will bring across our industrial portfolios, both for our logistics customers, as well as our investment partners.
“The collective brand will have scale, experience and the backing of a strong parent. We intend to grow the platform by leveraging global customer relationships, pursuing attractive opportunities in key markets and developing our premier land bank.
“Brookfield’s experience in managing and developing property assets globally, coupled with IDI Gazeley’s already enviable long-term track record, positions the new brand for long term growth. Additionally, with an improving global economic backdrop, evolving supply chains, growth of e-commerce, and increasing emerging market consumption trends, we expect to see significant opportunities for growth in the high-quality logistics sector.”
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