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Neinver & Colony Buy 2 Logistics Warehouses For c. €9M

6 February 2017 – Expansión

The joint venture created by the Spanish real estate company Neinver and Colony Logistics – which is owned by severa investment vehicles that are managed by subsidiaries of Colony Capital – has strengthened its portfolio of logistics assets in Spain, with the purchase of two new warehouses in Barcelona and Pamplona.

Market sources have indicated that these two logistics warehouses, which have a combined constructed surface area of 15,000 m2, have been sold for around €9 million.

The warehouse in Pamplona is located in the Arazuri-Orcoyen industrial area, three kilometres from the city centre, and has a surface area of 10,000 m2. The asset, acquired from Corpfin, is leased to the logistics operator Logiters.

Meanwhile, the logistics warehouse in Barcelona has a surface area of 5,000 m2.

The real estate consultancy firm CBRE advised the vendor in both cases.

Following these two new acquisitions, the joint venture that Neinver and Colony created at the beginning of 2015, with the aim of investing €200 million, now has a portfolio comprising 39 logistics and industrial centres, covering a surface area of more than 276,500 m2.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake