Ivanhoé Cambridge Acquires Evergreen Industrial Properties from TPG Real Estate

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Ivanhoé Cambridge announced today that it has completed the acquisition of Evergreen Industrial Properties (“Evergreen” or the “company”) from TPG Real Estate. Financial terms of the transaction were not disclosed. Evergreen is a U.S. light industrial real estate specialist that owns and operates a portfolio of more than 150 properties, comprising approximately 16 million ft2 (1,486,000 m2) across 18 major markets. In addition to high-growth markets such as Seattle, Denver, and Charlotte, the company has a significant presence in major distribution markets, including Atlanta, Chicago, and Dallas. Evergreen’s facilities offer strategic infill locations to distribution, e-commerce, and light manufacturing customers with a focus on “last mile” distribution. false false false Evergreen focuses on infill, multi-tenant assets of less than 250,000 ft2 (23 225 m2) in locations that are well-positioned to serve the needs of last-mile users in growing metropolitan centers. By leveraging local relationships and market expertise, Evergreen has successfully established a track record of acquiring assets through both single-property and portfolio transactions. TPG Real Estate created Evergreen in 2014, seeding the platform with a 7.5 million square foot (697,000 m2) portfolio acquisition. Through 11 distinct acquisitions, Evergreen then acquired an additional 127 properties in 18 targeted markets. false false false This transaction reflects TPG Real Estate’s theme-driven approach to investing, building, and scaling differentiated real estate platforms. false false false About Ivanhoé Cambridge Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and real estate companies in select cities around the world. It does so prudently, with a long-term view to generate optimal, risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners and major real estate funds that are leaders in their respective markets. Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in nearly 800 buildings, primarily in the residential, office, retail and logistics real estate sectors. Ivanhoé Cambridge held approximately C$56 billion in assets as at December 31, 2016. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com. About TPG Real Estate TPG Real Estate ("TPGRE") is the real estate platform of TPG, a leading global private investment firm with more than $73 billion of assets under management and 16 offices around the world. TPGRE includes TPG Real Estate Partners (“TREP”), its equity investment platform, and TPG Real Estate Finance Trust (“TRT”), its debt origination and acquisition platform. TREP focuses primarily on investments in real estate-rich companies, property portfolios, and select single assets located in North America and Europe. TRT originates and acquires senior real estate loans across a broad spectrum of asset classes in North America. TPGRE currently manages more than $5 billion in assets across both platforms. For more information please visit www.tpg.com.