Now that logistics real estate player Logos Group has raised $2.8 billion in equity for its pan-Asian warehouse empire, the Sydney and Shanghai-based logistics developer is bringing on board a veteran real estate financier to help manage all that cash and lead its fast-growing operation.
Logos co-managing directors John Marsh and Trent Iliffe last week introduced former BlackRock executive Tom Lee as the new CEO of the logistics real estate development firm which they co-founded in 2010.
In a statement, the group indicated that Lee had been appointed by its board, now that Logos is targeted to deliver $6.7 billion of assets under management. Those development targets include a new $800 million India joint venture with Canada’s Ivanhoé Cambridge and QuadReal Property Group that was announced late last month.
Five-Country Company Adds a Chief Executive
According to a statement by the company, Lee will join Marsh and Iliffe in delivering on Logos’ strategy of partnering with leading institutional investors and tenant customers to deliver quality logistics real estate solutions across Asia.
“We look forward to welcoming Tom to LOGOS and to the management team,” Iliffe commented in the statement. “Tom’s extensive management and property experience makes him a great fit for our business, where he will play a key role in ensuring we are well positioned to capitalise on these opportunities and cement our place as a leading logistics specialist in the Pan Asian region.”
The company’s new CEO formerly served as a Managing Director with BlackRock in London, and was with the company since 2008, including his time with private equity real estate firm MGPA, which was acquired by BlackRock in 2013.
Lee’s role helping to lead and coordinate Logos’ operations in Australia, China, Singapore, Indonesia and India, is intended to enable Marsh and Iliffe to focus on delivering strategic real estate and partnership outcomes in each of the regions, according to the company.
“We’ve had a very active year and are excited by the opportunities ahead,” Marsh added. “Our moves into India and Indonesia were key steps in progressing our Pan Asian growth strategy.” In addition to adding operations in the two Asian nations this year, Logos has raised over $1.7 billion of new equity commitments.
Brokers, Builders and Now a Banker
Much of Lee’s appeal likely comes via his experience in the financial side of development. The former accountant has more than 20 years of fund management experience, and spent more than a decade with developer Lend Lease in London, where he served as CFO, before leaving for MGPA in 2008. Before founding Logos, Iliffe was in charge of industrial real estate investment for LaSalle Investment Management in Asia and helped set up JLL’s industrial brokerage in China. Marsh’s experience was primarily with developers in Australia, including industrial giant Goodman Group.
“I’m delighted to join Logos at such an exciting stage of the company’s development,” Lee stated. “I look forward to working with the Board, management and our team as we deliver on our growth strategy and build our reputation as the leading logistics real estate manager, developer and partner of choice across the Pan Asian region.”
Before relocating to Sydney to join Logos, Lee had served as head of real estate for Europe, Middle East and Africa at BlackRock, where he was responsible for the investment management, asset management and development capabilities in the territories.