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industrial Market News: Spanish Real Estate Intelligence

Colonial Finalises Sale of €425MM Logistics Portfolio
7 August 2019 Colonial and Prologis have finalised the sale of a €425-million logistics portfolio that the socimi put up for sale four months ago. The portfolio includes 12 logistics platforms and warehouses and features a 131,000-m2 logistics complex in the San Fernando industrial estate. Prologis beat out competing offers by Deutsche Bank and Blackstone. Colonial was advised by JLL and Knight Frank; while CBRE advised Prologis. Original Story: El Confidencial - Ruth Ugalde Adaptation/Translation: Richard D. K. Turner
 
Merlin Acquires Land to Expand Cabanillas Logistics Park
5 August 2019 Merlin Properties announced, during a presentation of its results for the first semester of 2019, that it had acquired 92,994 m2 of land to expand its Merlin Cabanillas logistics park in Guadalajara. Merlin will build four new logistics modules next to its existing platform where clients such as Inditex, XPO Logistics, Logista and Luís Simões operate. The original platform, which was inaugurated in May of 2017 will grow to a total area of 302,000 m2, after 56-million-euro investment. The company stated that this expansion will be carried out in two phases, starting in 2020 and 2021. Original Story: Guadalajara Diário Adaptation/Translation: Richard D. K. Turner
 
Colonial Increases Occupancy as Logistics Sale Nears Conclusion
31 July 2019 Colonial, which is in the process of selling a €450-million portfolio of logistics asset, presented excellent results in the first semester of 2019.  The managed to get its occupancy rate from 85% to 90% in the first six months of the year, thereby increasing the attractiveness of the assets on sale. The socimi’s logistics portfolio consists of a total of 574,462 square meters, located in Madrid, Barcelona and its surroundings, Guadalajara, Tarragona and Seville. Prologis, Deutsche Bank and Blackstone are seen as the three final candidates for Colonial’s logistics portfolio. At first, Blackstone was the considered the likely winner of the auction, but recently Prologis, a US-based logistics operator, has pulled ahead. The operation is part of Prologis’s bid to become one of the main actors in the Spanish logistics market. The American firm currently owns 850,000 square meters of high quality assets in prime areas. In total, the company manages 72 million square meters of logistics platforms in 19 countries. Original Story: Merca2 - Carlos Lospitao Adaptation/Translation: Richard D. K. Turner