Grupo Lar Buys a Logistics Plot in Alcalá de Henares

21 January 2020 – Eje Prime

Grupo Lar has acquired a plot of land spanning 113,000 m2 in Alcalá de Henares (Madrid) for the development of a logistics complex measuring 60,000 m2. The property, which is going to be split into two warehouses, will be leased, in part, by the previous owner of the land, Toys’R’Us Iberia. Lar expects the first of the asset to be operational by 2021.   

Original story: Eje Prime

Translation/Summary: Carmel Drake

Avantespacia Buys a Plot of Land in Pamplona

20 January 2020 – Eje Prime

Avantespacia has purchased a plot of land spanning 9,764 m2 in the Soto Lezcairu area of Pamplona from Altamira and Metrovacesa for an undisclosed sum.

The real estate division of Inveravante is planning to build its third development in the Navarran capital on the site in the form of a 72-home high-rise block.

Following this purchase, Avantespacia’s land portfolio now spans more than 1.5 million m2.

Original story: Eje Prime

Translation/Summary: Carmel Drake

Montepino Acquires a Logistics Plot in Málaga

17 January 2020 – C de Comunicación

Montepino has purchased a plot of land spanning 115,000 m2 in Málaga, where it plans to invest €80 million in the construction of a new last-mile and same-day delivery logistics facility.

The Aragonese property developer has chosen the site of the former Intelhorce factory for the latest venture in its strategic plan. Construction of the facility, which will span more than 50,000 m2, is scheduled to begin in 2020 and be completed in early 2021.

Original story: C de Comunicación 

Translation/Summary: Carmel Drake

The Aragonese Group Bancalé Acquires 1,220 hectares of Land in Zaragoza

13 January 2020 – Heraldo

Bancalé has acquired the rural plots of land associated with the failed urban operation linked to the Plaza Logistics Platform in Zaragoza. The Aragonese investment group plans to use the plots for the development of a new agricultural line of business, as well as to grow its renewable energy division with the construction of a large photovoltaic solar plant on the site.

The plots are located between the La Peñaza golf course, the A2 motorway, the Centrovía industrial estate and the AVE railway tracks, and span 1,220 hectares in total.

The family office has reportedly paid more than €10 million for the land, which was previously owned by the US investment giant Blackstone.

Original story: Heraldo (by Jorge Alonso)

Translation/Summary: Carmel Drake

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Vivenio, Millenium & Atom Invested €543M in New Purchases in 2019

9 January 2020 – Eje Prime

Vivenio and the hotel Socimis drove the MAB in 2019. The Socimi controlled by Renta Corporación, plus Millenium Hoteles and Atom Hoteles together invested €543 million in new acquisitions during 2019. That figure accounted for 71.2% of all the funds spent on asset purchases by the MAB’s Socimis during the year.

Specifically, Vivenio invested €234 million, including €75.5 million on some of the Operación Calderón plots; Millenium closed 3 operations amounting to €192.4 million, including the purchase of 2 buildings in central Madrid which it is going to convert into a 5-star hotel; and Atom Hoteles spent €116.6 million on 5 hotels in Madrid, A Coruña, Cádiz, Tenerife and Gran Canaria.

In total, all of the Socimis on the MAB spent €762.1 million on the purchase of assets during 2019, up by 34.1% compared to 2018.

Original story: Eje Prime (by Marc Vidal Ordeig)

Translation/Summary: Carmel Drake

Bonavista Developments to Invest €40M in the Construction of a 11,500 m2 Office Building in Barcelona’s 22@ District

13 January 2020 – El Periódico

Bonavista Developments, through Mitsubishi Estate London and Europa Capital, has completed the purchase of a plot of land in the heart of the 22@ district of Barcelona, on Calle Cristóbal de Moura, for an undisclosed sum.

The two companies are planning to invest €40 million in the construction of a new office building on the site. The new offices are expected to span a surface area of 11,500 m2 and construction is scheduled to begin later this year.

Original story: El Periódico (by Max Jiménez Botías)

Translation/Summary: Carmel Drake

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

7 January 2020 –

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: 

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

Millenium Acquires Plot of Land in Sotogrande for €33.2 Million

6 January 2020 Millenium Hotels Real Estate I has acquired beachfront land, including two golf courses, in the area around Sotogrande, Cádiz, for 33.2 million euros. The asset includes a 90,000-m2 plot of land in the Hacienda de San Roque estate, along with the companies Alcaidesa Holding and Alcaidesa Golf. Between them, those firms control an urban plot of land with 50,000 m2 of land for residential and hotel use, two golf courses and a clubhouse.

The socimi intends to develop a 5-star resort with almost 400 rooms (150 in the main building and the rest in 53 villas). The new development will also have several swimming pools, a gym, spa, sports areas, meeting rooms, restaurants and two 18-hole golf courses (Alcaidesa Link and Heathland Golf).

Millenium Hotels Real Estate I ha adquirido terrenos frente al mar, incluidos dos campos de golf, en los alrededores de Sotogrande, Cádiz, por 33,2 millones de euros. El activo incluye un terreno de 90,000 m2 en la finca Hacienda de San Roque, junto con las compañías Alcaidesa Holding y Alcaidesa Golf. Entre ellas, esas empresas controlan una parcela urbana con 50,000 m2 de terreno para uso residencial y hotelero, dos campos de golf y una casa club.

La socimi tiene la intención de desarrollar un complejo de 5 estrellas con casi 400 habitaciones (150 en el edificio principal y el resto en 53 villas). El nuevo desarrollo también tendrá varias piscinas, un gimnasio, spa, áreas deportivas, salas de reuniones, restaurantes y dos campos de golf de 18 hoyos (Alcaidesa Link y Heathland Golf).

Original Story: La Vanguardia – P. R. D.

Translation/Summary: Richard D. Turner