London – October 22, 2024 – Meadow Partners (“Meadow”), an institutional middle-market real estate private equity investor and Citivale Group Holdings Ltd (“Citivale”), a UK real estate developer and asset manager specializing in logistics and light industrial assets, today announced the joint venture (JV) has acquired Zodiac Park, a warehouse and industrial park in West Drayton in Greater London from DTZ Investors.

Constructed in 2001, Zodiac Park, a 120,442 square foot property located on a 5.7 acre site, is a best-in class multi-let industrial estate. The property is well located along major motorways, M40, M25 (London’s orbital road) and M4, and easily accessible from Central London, London Heathrow Airport, and the South.  Currently 94.1% occupied, Zodiac Park offers eight units ranging between 7,070 square feet to 31,641 square feet with 9.0-9.7-meterinternal eaves.

“We look forward to working with Meadow to reposition Zodiac Park to capitalise on the acute shortage of high-quality light industrial space in the Western Corridor close to Heathrow,” said James Appleton-Metcalfe, CEO of Citivale. “We are delighted to bring Citivale’s deep asset management experience to this drive value for this prime asset in an exciting new JV with Meadow.”

“This transaction is consistent with Meadow’s approach to investing in high quality industrial assets in prime industrial and logistics sub-markets with strong transportation connectivity,” said J. Andrew McDaniel, Founding Partner of Meadow. “The London industrial sector is growing rapidly as vacancy in the specialised industrial and light industrial markets in London remains very limited at just 2.8% and demand continues to outstrip supply. Smaller, well-located units like Zodiac Park are well positioned to capitalize on the demand, and we are thrilled to invest alongside Citivale in a best-in class multi-let industrial property with a diverse tenant base in a major industrial London sub-market.”

Charles Howard and Paloma Friedrich of Cushman & Wakefield advised DTZ Investors on the sale of the property.

Rob Atkins of Clay Street and Rob Cotterell of MC Property advised the JV with Mishcon De Reya providing legal advice to the JV.

About Citivale

Citivale is a UK logistics and business space-focused investor, developer and operating partner with in excess of GBP 500m AUM in JVs, as third-party asset manager and for its own account. Founded in 2010 and headquartered in York, Citivale’sprimary focus has been the acquisition, development and management of industrial and logistics assets across all UK regions, with 4.7m sq.ft. currently under management. The firm partners with private equity funds, institutional investors and family offices in delivering value-add and core-plus real estate strategies, with a strong focus on enhanced ESG credentials through the investment cycle.

About Meadow Partners

Based in New York and London, Meadow Partners is a $6.6 billion vertically integrated real estate investment manager specializing in global middle-market transactions. Since inception in 2009, Meadow has leveraged its unique platform to execute on investment opportunities across multifamily, office, industrial and retail investment on behalf of institutional investors globally. Meadow currently manages a series of commingled opportunistic funds, a perpetual life vehicle, and two core/core-plus separately managed accounts.

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Meadow Partners

Mark Semer / Grace Cartwright

Gasthalter & Co.

(212) 257-4170

meadowpartners@gasthalter.com