JLL and Legal & General extend partnership across IPIF industrial portfolio
JLL secures long-term contract renewal to manage the Industrial Property Investment Fund’s portfolio
JLL’s PAM team has secured a long-term contract renewal with LGIM Real Asset’s Industrial Property Investment Fund (IPIF) for property and facility management services across its portfolio. The team will continue to deliver a high-quality occupier experience across the industrial sector, managing over 2,000 tenancies across 170 industrial properties in the UK.
IPIF predominantly invests in multi-let industrial estates in the UK that are of a high quality and typically higher yielding. Investors are provided with access to a highly diversified pool of industrial assets. IPIF’s portfolio spans the UK, creating assets in markets where the occupational demand significantly outweighs supply. Owing to a scarcity of high-quality, well located industrial assets, the supply-demand imbalance supports both rental growth and targeted development.
The Fund has over 30 development projects in the pipeline which will provide new urban logistics, trade developments and self-storage accommodation. Targeted acquisitions are also being undertaken.
IPIF remains one of the best performing real estate Funds in the UK. Over the last year it has delivered a return to investors in excess of 45%, and over the last 10 years has delivered a return of over 18%pa. The Fund is the top ranked fund in AREF/PFI index over three, five, and 10 years.
The Fund is managed by the Real Assets division of Legal & General Investment Management, one of the largest institutional asset managers in Europe and a major global investor, and is asset managed by a dedicated and experienced management team at JLL.
JLL is a key partner in the roll out of Vizta, LGIM Real Assets’ digital platform for industrial, office and retail occupiers, across the IPIF portfolio. The way buildings are used plays a pivotal role in the net zero carbon transition, and greater collaboration is fundamental to effect change.
Paul Rixham, Head of Legal & General Investment Management at JLL said, “We are pleased to extend our relationship on the IPIF Portfolio with LGIM Real Assets and are looking forward to creating a market leading offer where excellent customer service and sustainability are at the core of everything we do.”
Mark Tyson, Head of Property Operations for LGIM Real Assets said, “JLL is a long-standing partner of both Legal & General and IPIF so we are excited to further extend these services and focus on driving collaboration at scale. A key part of this will be working together to embed Vizta to achieve our Net Zero Carbon objectives and ensure occupiers can benefit from our wider asset management expertise, economies of scale and investment in technology to help them deliver their individual strategies.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.