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Indirect investment vehicles

Our indirect investments

Sonae Sierra

We have a 50% interest in Sonae Sierra, which the Group has held since 1996. Sonae Sierra is an international shopping centre specialist, with activities covering ownership, development, management and provision of professional services. Sonae Sierra operates in Portugal, Spain, Italy, Germany, Greece, Romania, Turkey, Azerbaijan, Morocco, Algeria, Colombia and Brazil.
For more information, see www.sonaesierra.com

io Investments LLP

In 2012 we formed a partnership with specialist industrial asset management company io Asset Management. The partnership invested in multi-let industrial estates and multi-let purpose-built office parks.
For more information, see www.ioam.co.uk

US High Street Realty Fund IV

Also in 2012, we committed capital to the High Street Real Estate Fund IV, which is managed by High Street Realty Company, LLC, a private equity real estate firm that invests in institutional quality industrial properties in the eastern half of the US (including the Mid-West and Texas).
For more information, see http://hsrealtyco.com/

Propertylink Australia Industrial Partnership

In 2014 we invested alongside Goldman Sachs and Propertylink, to establish a new vehicle focused on Australian industrial and logistics property. We fully exited this investment in August 2016 as part of the Propertylink Holdings IPO.
For more information, see www.propertylink.com.au

io Investments LLP  

In 2015, we closed our second deal with io Asset Management, in a joint venture with Quilvest, to invest in multi-let industrial properties in the UK. io manages the ca. £120m fully invested vehicle. 
For more information, see www.ioam.co.uk

High Street Realty Company

Also in 2015, we completed a joint venture with High Street Realty Company, the Boston-based private equity real estate investment management company. The US $70m joint venture acted as a temporary 100% bridging facility to enable High Street to continue to acquire assets between the end of the investment period for one fund and the first close of its follow-on fund. The new fund subsequently became a 50% owner in the joint venture which holds assets in Tampa, Chicago and Philadelphia.

West Midlands Interchange

The West Midlands Interchange is a strategic rail freight interchange project, proposed for development in South Staffordshire. The project is being proposed by Four Ashes Limited – a consortium set up in 2015 – comprising: a specialist rail infrastructure business, Kilbride Holdings; the landowner, Piers Monckton; and Grosvenor.
For more information, see www.westmidlandsinterchange.co.uk.

Propertylink Office Partnership II

Partnering again with Propertylink and Goldman Sachs, we completed the acquisition of the 30 story office tower at 320 Pitt Street, Sydney, in 2015.
For more information, see www.propertylink.com.au

RMB Westport

In 2016, we made our first investment into sub-Saharan Africa through a commitment to the RMB Westport’s Real Estate Development Fund II, signifying our first investment into sub-Saharan Africa. RMB Westport is a real estate investment management and development firm, focused on creating real estate developments to international standards in sub-Saharan African cities. Grosvenor’s investment is in RMB Westport’s second fund, which will develop a combination of shopping centres, office buildings and industrial assets, targeting primarily Nigeria, Ghana, Angola and the Ivory Coast. 
For more information, see www.rmbwestport.com 

Propertylink Office Partnership III

We partnered with Propertylink again in 2016, to acquire four properties near North Ryde train station in Sydney for AUS $94 million.
For more information, see http://propertylink.com.au/

Stockdale Capital

Also in 2016, we made a commitment to a joint venture with Los Angeles-based real estate investment firm Stockdale Capital Partners, and with San Diego-based parking operator Ace Parking Management.  The partnership will acquire, own and manage high quality parking structures and surface lots across the Southwest of the USA, and will target income-producing parking garages in infill, high-traffic submarkets and garages attached to hotels and office buildings that can be acquired and managed independently.  The partnership will also consider surface lots in supply-constrained markets where parking operations can be executed. 
For more information, see www.stockdalecapitalpartners.com or http://www.aceparking.com/

GreenSoil Building Innovation Fund

We made a US$20m investment into the GreenSoil Building Innovation Fund (GBIF), a Toronto-based growth equity fund investing in companies that provide products, services, and technologies that make the built environment more productive, efficient and sustainable. It works with its portfolio companies to build shareholder value by expanding sales through providing industry expertise and access to a diverse network of leading real estate customers.
For more information, see http://www.greensoil-investments.com/greensoil-building-innovation/

Alden Street Capital

In 2017 we formed a joint venture with Alden Street Capital, a New York-based student accommodation investment and management company.  The joint venture is targeting value add student accommodation opportunities across the US.

An overview of Indirect Investment’s full portfolio can be downloaded here

Contact: indirect@grosvenor.com

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