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. ”
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”.
The transaction includes assets located in Poland, Hungary, the Czech Republic and Slovakia.
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.
The logistics market in Zaragoza is still attracting investors; Spearvest, the Swiss advisory firm, has completed its first operation in Spain with the purchase of a warehouse in Plaza Zaragoza.
The Swiss firm Spearvest Partner has announced the purchase of a 6,900 square metre cross-docking logistics warehouse in Plaza, the logistics platform located in Zaragoza. With a total surface area of almost 7,000 square metres, the property is occupied by the operator TXT, which has a significant presence in Aragon, especially in the Aragonese capital and surrounding area.
The transaction sees Zaragoza continue to consolidate its position as one of the main alternatives to Madrid and Barcelona in terms of logistics investment. In 2019, the investment volume in that market amounted to more than €160 million.
The property acquired by the German fund contains a warehouse spanning more than 300,000 m2.
The German firm Deka Immobilien has acquired 100% of the share capital of Bedford DC Investment Limited, which owns the B&M distribution centre in Bedford (United Kingdom) for GBP 153.8 million (around €177 million at the current exchange rate). The property contains a warehouse spanning more than 300,000 square meters.
This purchase marks Deka’s return to the UK logistics market, following its sale of Sainsbury’s distribution centre in Waltham Point in 2014, according to Property Funds World.
The fund has carried out this operation just a few days after reporting that it plans to invest €500 million in the Spanish real estate market in 2020, although that figure is flexible and may increase.
This new line of business will focus on logistics, residential and commercial assets.
The company Engel & Völkers is going to develop real estate projects starting with the purchase of land right through to the commercialisation of the property, including getting involved in the construction work if required, according to EjePrime.
The firm has already launched this new business area in Germany and it will soon roll it out to other locations where the company is active, namely, Barcelona, Madrid, Valencia and Portugal.
Acciona is planning to adapt the final offer to meet the needs of the operators, although the project will involve the construction of 48 warehouses.
The complex, located in the district of Sant Andreu, in Barcelona, has a land surface area of 26,000 square meters and an industrial roof area of 52,000 square meters.
Acciona is planning to adapt the final offer to meet the needs of the operators, although the project will involve the construction of 48 warehouses, which will vary in size from 876 square meters to 52,000 square meters.
The real estate investment manager Barings has acquired a series of logistics assets in Spain, which together span a total surface area of 48,000 m2, for €42.8 million, and through various institutional investors.
According to the investment group, the facilities have been occupied by “one of the largest logistics groups on the Peninsula” for 17 years. Moreover, Barings has signed a new rental agreement with the tenant for another 20 years, although its identity has not been revealed.
“The favourable demographic factors and growing penetration of e-commerce continue to underpin the growth of the logistics market in Spain, a trend that we expect to continue in the medium and long term,” says the director of the real estate area in Spain, Adolfo Favieres.
The manager has acquired a warehouse leased to DHL in Salvatierra (Álava), in representation of its European logistics platform, for an undisclosed amount.
The asset joins three other logistics properties that already form part of the Nuveen’s portfolio in Spain. In this segment, the company now owns properties spanning more than 150,000 m², worth more than €100 million. In total, it has a total managed asset volume of around €1.8 billion in tertiary assets in Spain. The company made its Iberian debut in 2017, with its first investments in Madrid and Valencia. Last year, it increased its portfolio with the acquisition of a logistics warehouse in Trapagarán (Vizcaya).
Located 25 kilometres east of Vitoria and 85 kilometres south of Bilbao, this latest warehouse is currently leased to the international logistics operator DHL Supply Chain for a period of eight years. The logistics warehouse has been operational since October 2000, and DHL Supply Chain occupies it to render logistics services to Eroski. Over the last twenty years, the characteristics and operational capacity of the asset have been expanded to reach its current gross leasable area of almost 46,000 m².
Barcelona has become the second most attractive port in Europe for logistics investment, according to Savills’s European Port Logistics Opportunity Index (EPLOI), which assigns Barcelona 94.33 points. Compared with the other countries in the ranking, Spain offers a relatively low average salary.
Barcelona has become the second most attractive port in Europe for investment in logistics, according to Savills’s European Index of Port Logistics Opportunities (EPLOI), in which Barcelona has been assigned 94.33 points.
The growth of international trade is behind this boom, according to the consultancy, which has boosted the capacity of the port of Barcelona by 70% over the last five years. That represents the fastest rate of increase amongst the top 5 markets in the ranking. Valencia occupies third place, with 89.93 points.