Ropes & Gray advises QuadReal on European logistics platform investment

Ropes & Gray has advised QuadReal Property Group – a Canadian-headquartered real estate investment, development and management company – on the recent upsize and extension of the European logistics development platform, Continental Development Partners I (CDP I), sponsored by global logistics operator, GLP. 

The upsize sees QuadReal make an equity commitment to CDP I of EUR800 million and CDP I increase its projected AUM to EUR4 billion. As well as GLP, as sponsor and manager, QuadReal is invested alongside Canada Pension Plan Investment Board (CPPIB) as a major investor, with a EUR900 million equity commitment. 

CDP I was established in 2018 to target logistics developments in Continental Europe, including Germany, France, Italy, Spain and the Netherlands. This extension sees the fund add high-quality logistics developments in the UK and Central and Eastern Europe to its investment targets. 

The Ropes & Gray team – all members of which are based in London – was led by private equity real estate counsel Will Bryant, with private equity real estate associate David Broome and tax counsel Chris Agnoli.