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industrial Market News: Spanish Real Estate Intelligence

Cereit Sells Logistics and Commercial Assets in France, the Netherlands and Denmark to Blackstone
The portfolio includes five assets in France, two in Denmark and another five in the Netherlands, which together span 124,000 m2. Cromwell European Real Estate Investment Trust (Cereit) has sold 12 logistics and commercial assets to various subsidiary funds of Blackstone for €65.7 million. The portfolio includes five assets in France, two in Denmark and another five in the Netherlands, which together span 124,000 m2. In parallel, it has acquired three properties in Germany, also in the logistics sector. Wouter Zwetsloot, Director of Real Estate Europe at Cromwell, explained in a statement that “the transaction price, which amounts to €65.7 million, represents a premium of 4.1% over the valuation of the assets, and a premium of 15.2% over their respective total purchase prices, demonstrating our experience of positioning assets and finding buyers in this field. ”
 
Spearvest will Invest €100M in Logistics Platforms in Spain until 2021
The firm is studying the market in cities such as Madrid, Barcelona, Zaragoza, Sevilla and Valencia with a view to acquiring all types of logistics platforms. The Swiss company Spearvest, which specialises in the logistics segment, has created a fund through which it plans to invest up to €100 million in Spain over the next eighteen months, according to EjePrime. The firm is studying the market in the main cities across Spain, such as Madrid, Barcelona, Zaragoza, Sevilla and Valencia. It plans to buy logistics platforms of all types, from large warehouses to the last mile distribution centres. Nevertheless, it will focus on individual investment volumes that do not exceed €15 million euros since “there is less competition in this market”.
 
Goodman Sells a Logistics Portfolio in Eastern Europe to GLP for €1bn
Goodman European Partnership (GEP) and the Goodman Group have signed an agreement to sell a portfolio of assets in Central and Eastern Europe to GLP for around €1 billion (AUD 1.7 billion). The transaction includes properties located in Poland, Hungary, the Czech Republic and Slovakia, according to the Sydney-based firm. In this way, Goodman is reinforcing its strategy of focusing its portfolio on strategic cities and the main consumer markets in continental Europe. Philippe Van der Beken, CEO of Goodman in Continental Europe, explained that “the income obtained from this sale will allow us to capitalise on the strong demand for logistics assets and to continue to grow in the main markets of Spain, Germany, France, Benelux and Italy. We will continue to focus on high-quality logistics assets and on the development of projects in these markets, where barriers to entry are high and land is scarce.” This transaction is subject to regulatory approval.