Valor makes debut investment

Valor Real Estate Partners, a firm founded this summer by executives from KTR Capital Partners and Delin Capital Asset Management, has made its maiden investment.

The London-based firm said Monday that it purchased a 7.7-acre site next to Heathrow Airport from manufacturer Kidder Graviner, which will lease the site for about a year. Valor is seeking permission to demolish the existing building and construct up to 140,000 square feet of a Class A logistics facility.

Terms of the transaction were not disclosed, but local media reported that Valor bought the site for £15 million ($19 million, €17 million). The project will be managed by Valor and its development partner, Canmoor, a UK-based industrial and warehouse developer. PERE understands that the transaction was made using capital from the firm’s balance sheet.

“A preeminent logistics hub, Heathrow maintains very favorable supply and demand dynamics, generating the highest rents within the European market and experiencing strong rental growth over the last few years,” Christian Jamison, Valor’s managing partner, said in Monday’s statement. “The site is perfectly positioned to service both airport related demand as well as the growing e-commerce market for the Central/West London area. This will be one of few large, high caliber projects to be built in the area over the last decade.”

Jamison, the founder of Delin Capital Asset Management (DCAM), teamed up Jeffrey Kelter and Robert Savage, KTR’s founders, to establish Valor in June.

During Jamison’s time at DCAM, a European logistics-focused investor, he built a team and created Capital Preservation Portfolio I, a €500 million fund of European logistics properties totaling 6 million square feet. KTR was founded in 2004 as an investment, development and operating company focused on the North American industrial property sector. In May 2015, Prologis acquired KTR’s real estate assets and operating platform for $5.9 billion.