• Transaction / Assets
    3 warehouses in Cataluña
  • Seller
  • Buyer
    Gramercy Property Europe III
  • € MM
    32.25

Gramercy Europe Buys 3 Warehouses in Cataluña for €32.25M

23 January 2019 – Eje Prime

Gramercy is strengthening its position in Spain. The real estate investment group has purchased three logistics assets in Cataluña, through its fund Gramercy Property Europe III. The acquisition of the three warehouses has been carried out for €32.25 million in total.

Two of the assets are located in a business park in Constantí, a municipality to the south of Barcelona. The first has a surface area of 24,032 m2 and will continue to be leased to Chemiprats, a distributor of polymers and plastic resins.

Meanwhile, the second property has a surface area of 25,930 m2 and will continue to be occupied by a distributor of computers and electronic equipment. Both warehouses have been purchased for €22.75 million.

In terms of the third acquisition, it is located in La Bisbal del Penedès, also to the south of Barcelona. It is a space comprising two connected buildings with a combined surface area of 20,120 m2. Gramercy has acquired that asset for €9.5 million, and it will continue to be occupied by the company Naeko Logistics.

Gramercy, a real estate investment group from the US, launched the fund Gramercy Property Europe III in 2017, through which it plans to invest up to €650 million in logistics assets in Spain, Germany, the Netherlands and France. In the case of Spain, it invests in logistics assets primarily in Madrid and Barcelona costing between €10 million and €200 million.

Gramercy, led in Spain by Gregory Vinson, has its Spanish offices located at number 640 Avenida Diagonal, in Barcelona. The company, which is owned in its entirety by Gramercy Property Trust, manages a portfolio of assets worth more than €1 billion.

Original story: Eje Prime

Translation: Carmel Drake

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