Transaction / Assets Seller Buyer € MM
Trajano Iberia Buys 4 Logistics Warehouses For €42.9M
5 December 2016 – Heraldo
The Socimi Trajano Iberia, which is listed on the Alternative Investment Market (MAB) and which is managed by the real estate investment division of Deutsche Asset Management, has purchased four logistics warehouses in Zaragoza for €42.9 million, according to reports from sources at the company on Friday.
The assets are located in the Campus Plaza 3.84 industrial estate in Zaragoza, the city’s main logistics centre. The location is “strategic” given that it is at the centre of Spain’s main logistics thoroughfares (between Madrid-Barcelona and Euskadi-Valencia), according to the sources.
The assets, which are leased in their entirety to 6 tenants, have a combined surface area of 72,484 m2 and 68 loading bays.
The average life of the contracts (until the first maturity date) exceeds 6.5 years. The longest lease is not due to expire for more than 10 years.
After completing this purchase, Trajano Iberia has now invested €181 million in total. It has a combined managed surface area of 117,000 m2 and an average purchase yield of 6.7%.
The company’s current product mix comprises: offices (31%), shopping centres (34%), logistics assets (22%) and high street stores (13%).
In October, the company completed a €47 million capital increase in order to undertake additional investments amounting to between €95 million and €100 million.
The Trajano Iberia Socimi was created in June 2015, with the aim of investing in a mixed portfolio of diverse properties in Spain and Portugal, primarily for rental.
Since its constitution, the company has raised funds amounting to €142 million and has carried out the procedures necessary to enable it to be listed on the MAB, which is a necessary requirement for it to be allowed to operate as a Socimi, say the sources.
Original story: Heraldo
Translation: Carmel Drake