ICG’s real estate division forms Metropolitan Last Mile

• Metropolitan is focused on urban population centres across the UK, France, and Germany
• This formation has received backing from global institutional investors
• ICG Real Estate is a real estate manager in Europe and the real estate division of ICG

ICG Real Estate has announced the formation of Metropolitan Last Mile, a distribution and industrial platform focused on major urban population centres across the UK, France, and Germany.

Metropolitan’s formation was led by ICG Real Estate’s team and has received backing from global institutional investors.

The platform has a strategic growth plan to expand to over €1.5 billion within the next 18 months, according to a release.

“We are delighted to announce the formation of Metropolitan Last Mile which will continue to acquire high-quality distribution and industrial assets in some of the strongest, undersupplied European markets,” said Krysto Nikolic, global head of ICG Real Estate.”

Metropolitan has over the last nine months acquired 35 assets across the UK, France and Germany via eight separate transactions, with a total gross asset value in excess of €500 million.

The portfolio was acquired in a repriced market environment through off-market and special situations, the release said.

Metropolitan’s around 65 percent of assets are in London, Paris, and Berlin.

ICG Real Estate is a real estate manager in Europe and the real estate division of ICG. ICG is a global alternative asset manager managing $80.2 billion of assets. The firm is based in London.