Aldar partners with Carlyle to invest in UK and European logistics and storage real estate

Aldar partners with Carlyle to invest in UK and European logistics and storage real estate

Abu Dhabi, UAE: Aldar Properties (“Aldar”), the leading real estate developer, investor, and manager in the UAE, has added further weight to its international expansion plan with an AED 407 million (USD 111 million) investment in logistics and storage assets in Europe through a partnership with global investment firm Carlyle (NASDAQ: CG).

The strategic partnership will see Aldar make a commitment to the Carlyle Europe Realty (“CER”) platform, the company’s pan-European real estate strategy, alongside a majority stake in a co-investment platform, which includes an income-producing portfolio of 14 warehouses located across key logistics hubs in the UK. The portfolio, which is managed by Carlyle, comprises 900,000 sq ft of gross leasable area (GLA) and is fully occupied with substantial reversion potential. Aldar has also invested alongside Carlyle and other investors into a portfolio of self-storage facilities and development sites in Western Europe.

Within the logistics and self-storage investments, Aldar will leverage its development and asset management expertise to help shape the portfolios, and the partnership model paves the way for Aldar to gain further exposure to the segment alongside Carlyle.

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar Properties, said: “Aldar is pursuing a programmatic, themed investment strategy in Europe, building