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Goldman Sachs With €1-Billion to Invest in Logistics on the Iberian Peninsula

October 22, 2021 – Ana Custódio

The US bank wants to invest in warehouses in Portugal and Spain.

According to a report published by Cinco Dias, the North American bank has announced that it will invest one billion euros in building warehouses in Portugal and Spain over the next three years. Goldman created the Newdock brand for this purpose.

Goldman Sachs Asset Management will invest through its real estate department. The recently created Newdock has been operating since the beginning of the year and already has a portfolio of seven logistics for development in Spain, with a total gross leasable area of 500,000 square metres. According to the publication, the initial investment in the portfolio would amount to 400 million euros.

Although there is the intention to invest in Portugal, there is no specific information on any specific projects. Newdock intends to build facilities for operators with more specific needs and will also develop turnkey projects.

Quoted in Cinco Dias, Javier Solís of Goldman Sachs explained that Newdock was created to accompany major national and international operators, responding to their logistics needs in the Iberian Peninsula. “We believe that the market will be increasingly demanding in terms of quality standards, efficiency and sustainability of logistics assets.”

Translation: Richard D K Turner