Hogan Lovells advises HOOPP on joint venture with Verdion Properties

Hogan Lovells has advised Healthcare of Ontario Pension Plan (HOOPP) on a joint venture with Verdion Properties to establish a logistics platform across Europe.

The €1bn (£625m) five-year development programme will source build-to-suit projects for logistics operators throughout Europe, focusing on Germany and Scandinavia.

It includes the acquisition and development of a six-million-square-foot scheme in Rossington, Doncaster, served by a motorway spur and i-port rail freight interchange, with a developed value of £400m; developments in Hamburg and Leipzig with Netrada and Siemens respectively; and the acquisition of a 10 per cent stake in the LINK development portfolio in Germany.

The Hogan Lovells team advising HOOPP was led by Nicholas Cheffings and London real-estate partner Dion Panambalana, with partners James McDonald and Philip Gershuny advising on structuring and tax matters.