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real-estate-news Market News: Spanish Real Estate Intelligence

Sire Acquires Portfolio of Logistics Assets in Zaragoza
5 December 2019 – Strategic Industrial Real Estate (Sire), a joint venture managed by Arrow Capital Partners, has acquired a portfolio of logistics assets in Zaragoza. The deal, in conjunction with Cerberus, includes 38,536 square meters of gross leasable area worth 20 million euros. Savills Aguirre Newman and Latham & Watkins advised on the acquisition. Sire has €2 billion to invest in European logistics and industrial assets. Original Story: Eje Prime Adaptation/Translation: Richard D. K. Turner
 
AliExpress Intent on Acquiring Land to Build a Logistics Platform in Seville
5 December 2019 – AliExpress, the international subsidiary of the Chinese e-commerce giant Alibaba, is looking to enter the fray in Europe by acquiring land for a major logistics centre in Spain. Just a year ago, the firm partnered with El Corte Inglés to open its first brick-and-mortar store on the continent, in Madrid. Now AliExpress, whose second-largest overseas market is Spain, is looking to develop a new logistics centre in the metropolitan area of ​​Seville. The firm is following in the footsteps of its principal competitor, the US behemoth Amazon. AliExpress is now looking to build a 120,000-m2 logistics platform in the Megapark Business Estate, where its rival has a 200,000-m2 facility. AliExpress’s immediate needs include an approximately 60,000-m2 warehouse, with the possibility of further expansion. Megapark benefits from easy access to rail, road and maritime transport links. Original Story: El Confidencial - Carlos Pizá de Silva Photo: Reuters Adaptation/Translation: Richard D. K. Turner
 
Zaka Investments and Evok Hotels to Open Luxury Hotel Designed by Philipe Starck in Madrid
4 December 2019 – The consultancy Savills Aguirre Newman announced that it had sold the office building located at Gran Vía 20 in Madrid on behalf of Cajalmendralejo to the French firm Zaka Investments for 44 million euros. The property, which was home to offices of the regional government, will be converted into a luxury hotel designed by Philipe Starck. The Parisian firm Evok Hotels Collection will take over the management of the hotel, its first in Spain. Cajalmendralejo originally acquired the building, which has eleven floors and 4,500 square meters of above-ground surface area, in 2014, when it paid 20 million euros for the asset at a public auction. Original Story: La Vanguardia / Europa Press Adaptation/Translation: Richard D. K. Turner