Merlin to Make its Portuguese Stock Market Debut on 15 January

9 January 2020 – Europa Press

Merlin Properties, the Socimi led by Ismael Clemente (pictured below), is going to make its debut on the Lisbon stock market on Wednesday 15 January.

Merlin will thus fulfil its objective, announced in 2019, of trading its shares in Portugal (as well as on the Ibex in Madrid), given that it is a strategic market for the entity.

Specifically, the Socimi already owns 9 offices, 2 shopping centres and 1 logistics warehouse in the neighbouring country, assets which together account for 8% of its total portfolio. They span a combined surface area of 113,000 m2 and generating €44 million in annual revenues.

Original story: Europa Press 

Translation/Summary: Carmel Drake

Savills Aguirre Newman: Logistics Leasing in Cataluña Fell by 11% to 600,000 m2 in 2019

13 January 2020 – Cadena de Suministro

The volume of logistics space leased in Cataluña decreased by 10.7% in 2019 to 594,172 m2, compared with 665,952 m2 in the previous year, according to data compiled by Savills Aguirre Newman.

In total, 60 operations were closed, with notable transactions closed by Decathlon in ZAL, Districenter in Llisá de Munt and DSV in Molins de Rei.

The YoY decrease was driven by fewer large operations (those over 20,000 m2) in 2019, which broke records in 2018 and a mismatch between supply and demand in terms of surface area and location.

Nevertheless, turnkey operations continued to rise, which typically involve longer rental periods and high rental prices.

The outlook for 2020 is optimistic.

Original story: Cadena de Suministro

Translation/Summary: Carmel Drake

BNP Paribas: Investment in Logistics Assets Amounted to €1.85bn in 2019

9 January 2020 – Cadena de Suministro

According to data compiled by BNP Paribas, investment in the Spanish logistics sector amounted to €1.85 billion in 2019, which represented a new record, for the fifth consecutive year, and an increase of 42% YoY. The rise was driven by the boom in e-commerce and the attractive returns in the segment.

During Q4 2019, investment in the sector amounted to €545 million with prime yields falling to 4.90%. Notable transactions during the quarter included the sale by GreenOak to Patrizia of the largest logistics portfolio in Europe for €1.3 billion (€225 million in Spain); and the acquisition by Roebuck of the Pikolin logistics platform in Zaragoza for €78 million.

Original story: Cadena de Suministro

Translation/Summary: Carmel Drake

Gazeley Acquires 42,200 sqm Site in Pinto (Madrid)

7 January 2020 – Gazeley.com

Gazeley, a leading investor and developer of logistics warehouses and distribution parks, today announces that it has acquired a 42,200 sqm site near Madrid, with plans to build a 19,000 sqm warehouse, G-Park Pinto.

The acquisition represents Gazeley’s fourth investment in Spain since re-opening its office in Madrid last year, and will target logistics, distribution and e-commerce companies in need of a last-mile logistics hub. Construction is expected to begin in 2020.

The warehouse will be built with a highly flexible design, allowing it to be adapted to the specific needs of a future customer. It will also have a BREEAM Very Good certification, reflecting Gazeley’s commitment to developing sustainable spaces across Europe, and smart LED lighting.

The area is a well-known logistics hub located around 20 minutes from Madrid. It has access to the A-4 (Madrid-Córdoba) and A-42 (Madrid-Toledo) highways, the M-50 and M-45 Madrid ring roads and has direct access to R-4 (Madrid-Ocaña Toll).

Savills Aguirre Newman is advising Gazeley on leasing.

Original story: Gazeley.com 

Translation/Summary: Carmel Drake

CBRE GI to Invest €350M in Real Estate Projects in 2020

6 January 2020 – Eje Prime

CBRE GI is entering the real estate finance market. Following its acquisition of Laxfield Capital, a British real estate debt platform, at the end of last year, the group has announced that it is going to invest €350 million in new purchases in 2020, focusing not only on the acquisition of assets but also on the commissioning of real estate projects.

CBRE GI already reported that the Spanish market will be a clear objective for this new line of business. Last year, the firm invested €350 million in Spain and Portugal, where it currently owns 13 shopping centre, 43 logistics platforms, 3 office buildings, 10 hotels, 37 halls of residence and 73 homes.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

Malaysian Investment Fund Looks to Buy into Major Development on the Costa del Sol

6 January 2020 A Malaysian investment fund linked to the country’s sovereign wealth fund is finalising negotiations to become the first investor in a huge residential, commercial and industrial development on the Costa del Sol. The project would be the largest of its kind in the region and one of the largest in Spain as a whole.

The development is mainly set to include residential homes on a 2.6 million square meter plot of land near the Andalusian Technology Park, in Campanillas, Málaga. The development would consist of the construction of 5,000 ‘build to rent’ rental homes slated for professionals working at the technology park.

The land currently belongs to about 700 individual families.

Un fondo de inversión de Malasia vinculado al fondo de riqueza soberana del mismo país está finalizando las negociaciones para convertirse en el primer inversor en un gran desarrollo residencial, comercial e industrial en la Costa del Sol. El proyecto sería el más grande de su tipo en la región y uno de los más grandes de España en su conjunto.

El desarrollo está destinado principalmente a incluir viviendas en una parcela de 2,6 millones de metros cuadrados cerca del Parque Tecnológico de Andalucía, en Campanillas, Málaga. El desarrollo consistiría en la construcción de 5,000 viviendas de alquiler ‘construidas para alquilar’ programadas para profesionales que trabajan en el parque tecnológico.

La tierra actualmente pertenece a unas 700 familias.

Original Story: Vozpópuli – Joaquín Hernández

Translation/Summary: Richard D. Turner

Singapore’s GIC to Sell Portfolio of Logistics Assets

4 January 2020 GIC, Singapore’s sovereign wealth fund, has mandated JLL to launch the sale of a €100-million portfolio of logistics assets owned by its subsidiary in Spain, P3 Logistics.

The portfolio contains one-third of P3 Spain Logistic Parks’ assets of approximately €270 million. The socimi is currently listed on the MAB, with a market cap of 30.7 million euros.

GIC, el fondo soberano de Singapur ordenó a JLL lanzar la venta de una cartera de activos logísticos de 100 millones de euros, propiedad de su filial en España, P3 Logistics.

La cartera contiene un tercio de los activos pertenecientes a P3 Spain Logistic Parks, un total de aproximadamente €270 millones. La socimi actualmente cotiza en el MAB, con una capitalización de mercado de 30,7 millones de euros.

Original Story: El Confidencial – Ruth Ugalde

Translation/Summary: Richard D. Turner

Goodman Real Estate Rings Out 2019 With Acquisition in Madrid

4 January 2020 Goodman Real Estate has finalised its acquisition of a plot of land in Getafe, Madrid, from Lonestar, CaixaBank and the Masaveu family for thirty million euros. The land, where Goodman will invest 90 million euros to build a new logistics facility, is located in the southern zone of Madrid.

The deal is an example of the type of logistics operations that are driving the Spanish sector, as the rise of e-commerce and a focus on last-mile facilities are ramping up demand. According to estimates by JLL, investors ploughed a record 1.818 billion euros into the sector in 2019, an increase of 27.5% year-on-year.

Approximately 50% of the logistics facilities sold in 2019 were in Madrid, while a further 25% were located in Barcelona. Secondary markets, such as Bilbao and Zaragoza, are also gaining prominence. The increase in investor interest has also squeezed profitability in the two largest markets, falling from 5-6% to just 4.75%.

En español

Goodman Real Estate ha finalizado su adquisición de un terreno en Getafe, Madrid, de Lonestar, CaixaBank y la familia Masaveu por treinta millones de euros. El terreno, donde Goodman invertirá 90 millones de euros para construir una nueva plataforma logística, se encuentra en la zona sur de Madrid.

El acuerdo es un ejemplo del tipo de operaciones logísticas que están impulsando el sector español, ya que el aumento del comercio electrónico y un enfoque en las instalaciones de última milla están aumentando la demanda. Según las estimaciones de JLL, los inversores invirtieron un récord de 1.818 millones de euros en el sector en 2019, un aumento del 27,5% interanual.

Aproximadamente el 50% de las instalaciones logísticas vendidas en 2019 se encontraban en Madrid, mientras que otro 25% se encontraba en Barcelona. Los mercados secundarios, como Bilbao y Zaragoza, también están ganando protagonismo. El aumento en el interés de los inversores también ha reducido la rentabilidad en los dos mercados más grandes, cayendo del 5-6% a solo el 4.75%.

Original Story: El Confidencial – E. Sanz / C. Hernanz

Translation/Summary: Richard D. Turner

Patrizia to Sell Amazon’s Logistics Platform in Madrid

4 January 2020 The German firm Patrizia has decided to sell two logistics assets in Madrid. The platforms include Amazon’s logistics centre in Getafe and a warehouse in Torrejón de Ardoz. Patrizia is looking to raise 150 million euros with the sale.

Amazon’s facility in Getafe is raising the most investor interest. The 58,000-m2 asset has a long-term lease with the e-commerce giant and is located near the M-50 ring-road. Patrizia acquired the property in 2017 and paid 40 million euros to build the platform.

La firma alemana Patrizia ha decidido vender dos activos logísticos en Madrid. Las plataformas incluyen el centro logístico de Amazon en Getafe y un almacén en Torrejón de Ardoz. Patrizia busca recaudar 150 millones de euros con la venta.

Las instalaciones de Amazon en Getafe están generando el mayor parte del interés de los inversores. El activo de 58,000 m2 tiene un contrato de arrendamiento a largo plazo con el gigante del comercio electrónico y está ubicado cerca de la carretera M-50. Patrizia adquirió la propiedad en 2017 y pagó 40 millones de euros para construir la plataforma.

Original Story: Idealista / El Economista

Translation/Summary: Richard D. Turner

XPO Logistics to Invest in Last Mile Logistics in Spain

16 December 2019 – The logistics company XPO Logistics is looking to double its logistics investments in Madrid, Barcelona and Valencia by 2020, targeting last-mile logistics in particular.

In consequence, XPO announced that it would build a new last-mile logistics platform in the Metropolitan Area of ​​Barcelona, ​​in the municipality of Castellbisbal, 30 kilometres from the city. The 13,000-m2 warehouse is in addition to another, 27,000-m2 facility the firm already has in the city.

The firm will build the new facility on a 37,000-k2 plot of land. The new development will have two buildings, 435 m2 and 913 m2, respectively.

Original Story: Eje Prime – Marta Tamayo

Adaptation/Translation: Richard D. K. Turner