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Saba Sells Its Logistics Parks To Merlin For €115M

18 October 2016 – Real Estate Press

Saba has completed the sale of its Saba Parques Logísticos division, the company that owns shares in five logistics parks, to Merlin Properties for €115 million.

The following assets are included in the operation: Cim Vallès (Barcelona) and Lisboa Norte in Portugal, as well as stakes in the Zona Franca Logistics Park (Barcelona), Sevisur (ZAL Puerto de Sevilla) and Arasur (Álava).

With this sale, Saba closes a phase of four successive divestment operations to generate €300 million in own funds, through which it seeks to maximise the value of its car park business line.

On the other hand, Saba has awarded the contract for the management of the car parks at the largest aerodrome in Chile, the Arturo Merino Benítex Airport, located to the west of the city of Santiago.

The contract signed with Nuevo Pudahuel, the airport’s concession company, involves the management of 4,500 parking spaces spread across three locations for a three year period.

Original story: Real Estate Press

Translation: Carmel Drake