LS Estates has appointed Paul Crosbie to lead its newly created division dedicated to the industrial and logistics sector.

To be known as LSi, the new business is currently evaluating £200m of potential investment opportunities, which Crosbie will be tasked to materialise.

Crosbie joins as business space and logistics director from M&G Real Estate, where he served for nine years, most recently as head of industrial and logistics and value add fund manager. His career also includes 10 years at European investment manager Rockspring, now Patrizia, and time in London and Dubai with CBRE.

The move comes as LS Estates looks to apply its expertise in carbon management honed through central business district office development to create sustainable, future-proofed logistics space.

Crosbie’s appointment follows the recent hires of Rowan Jenkins as managing director of development, and Steve McGuckin, as senior development adviser.

Mark Swetman, chief executive of LS Estates, said: “We welcome Paul to the LS team, and we look forward to working with him to accelerate our presence in the logistics sector. 2024 has proven to be an exciting year for the company with two new mandates, and Paul’s expertise will guide our expansion into one of the most exciting areas of the real estate market.”

LS Estates is currently developing and asset managing more than £600m of assets in London, including 5 Chancery Lane, The Wingate, W1, Barnes Hospital, SW14, and 17 Columbus Courtyard.