IDI Gazeley, a U.S. investor and developer of logistics warehouses and distribution parks, has been renamed IDI Logistics with the sale of Gazeley, the company’s European counterpart. Brookfield Asset Management, owner of IDI Logistics, agreed in October to sell the European business to Asia’s Global Logistic Properties for US$2.8 billion. Based in Atlanta, Georgia, IDI Logistics has 33 million square feet of assets under management and additional land sites to develop another 20 million square feet of distribution facilities in North America.
IDI Gazeley Becomes IDI Logistics
Name reflects 30 years in industry, sale of Gazeley
IDI Logistics remains a portfolio company of Brookfield Asset Management
ATLANTA, Jan. 3, 2018 /PRNewswire/ — The U.S.-based operations of IDI Gazeley are being renamed IDI Logistics effective with the sale of Gazeley, its European counterpart.
IDI Logistics will remain as a portfolio company of Brookfield Asset Management. Brookfield has $265 billion in assets under management, making it one of the largest real estate investors in the world.
“The new IDI Logistics name retains the trusted IDI brand while reinforcing our commitment to being the leading logistics property company in North America,” said Mark Saturno, IDI Logistics’ Chief Executive Officer. “IDI Logistics will continue to provide the same high level of service to its customers and partners in North America under the new brand.”
Added Saturno, “The Gazeley team has been a strong partner for several years and together we’ve cultivated valuable relationships that undoubtedly made both IDI and Gazeley stronger companies. We wish the Gazeley team well, and congratulate them on the successful sale, which is a testament to their exceptional track record and the strength of Brookfield’s stewardship.”
IDI Logistics is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 33 million square feet of premier assets under management and additional prime land sites to develop another 20 million square feet of distribution facilities near major markets and transport routes throughout North America. IDI Logistics is a portfolio company of Brookfield Asset Management.
For more information, please visit our website at www.idilogistics.com/
Photo courtesy of IDI Logistics