Verdion and HOOPP Sign Agreement for Exclusive Development Partnership (EU)

Logistics property investor and developer Verdion has entered into an agreement with the Healthcare of Ontario Pension Plan (HOOPP) for the funding and development of logistics parks in Europe.
 
In its new partnership, HOOPP and Verdion will work together exclusively for logistics development throughout Europe, building a portfolio with a value of over €1 billion over the next five years. Verdion will continue to work with the largest 3pls, retailers and manufacturers in Europe, delivering high-quality logistics schemes.
 
HOOPP is one of the largest and most successful defined benefit pension plans in Canada, with 274,858 active members and pensioners and $47.4 billion in assets available for pensions.
 
Verdion, formerly Helios Europe, was established in January 2010 by CEO Michael Hughes, with the backing of Mansford Real Estate. The company has since become a leading force in the European logistics sector, with a specialist focus on e-tailing. As a result of the new funding agreement, Mansford has been bought out of the company and Verdion will now be fully owned and controlled by Hughes, together with his fellow directors.
 
With immediate effect, the new partnership will own and develop iPort, the 6 million ft², (approx. 557,400 m²) rail logistics project in Doncaster UK, which has an end value of £400 million. HOOPP will also acquire a stake in Verdion’s Link Project in Germany comprising three logistics schemes located in Berlin, Leipzig and Ingolstadt, totaling over 3,767,491 ft² (approx. 350,000 m²) with an end value of €250 million.
 

on October 7, 2013