Spain’s Ministry of Defence to Make a Third Attempt to Auction Off Assets in Alcalá de Henares

30 September 2019 – Spain’s Ministry of Defence (MOD) will attempt to auction off a series of real estate assets for the third time, as the first two auctions failed to raise any investor interest.

The Spanish government announced the sale in its Official State Gazette and through Addmeet, a real estate auction portal the government has often used in the past.

The fifteen assets on auction include fifteen plots of land with a total of 85,000 square meters of finalist land in Alcalá de Henares, on the outskirts of Madrid. The MOD requested a total of 75 million euros in the first auction and then reduced that to €68 million in the second. That second auction failed to attract any bidders, so the MOD will attempt two additional auctions, if necessary, reducing the price by 10% and then an additional 15%. Should the sale go to a fourth auction the sales price would fall by a total of 25% to 56 million euros.

The MOD will auction the fifteen lots separately. The plots of land are located in Colonia Ciudad del Aire, next to the Parque Los Nogales urbanisation, on which a developer could build 800 to 1,000 homes.  The plots have buildable areas ranging from 3,000 to 7,500 m2, with prices between 2 and 5 million euros.

Original Story: El Confidencial – Elena Sanz

Adaptation/Translation: Richard D. K. Turner

 

 

 

Goodman to Develop 285,000 m2 of Logistics Land in Spain

16 January 2019 – Eje Prime

Goodman is boosting its business in Spain. The inmo-logistics giant is entering 2019 with a portfolio for development that spans a surface area of more than 285,000 m2. The company is going to finalise two projects spanning more than 100,000 m2 this year, after increasing its portfolio by 30% in 2018, according to reports from the company.

In the last year, the occupancy rate of Goodman’s assets in Spain was 100%, reaching a total surface area of 106,000 m2. Its most recent completed projects include a turnkey in the Zona Franca of Barcelona and a last mile logistics platform in Madrid.

Both developments had e-commerce companies as the client. Not in vain. E-commerce “consolidated its position as the great ally of the industry by demanding large, high-quality logistics spaces in strategic locations, and with easy access to the major cities”, explained Ignacio García Cuenca, Director General of Goodman in Spain.

Currently, the company is developing four logistics platforms in Cataluña, one of the regions in which it is most active. Specifically, the company is going to build 111,000 m2 in Barcelona.

Moreover, Goodman is going to finalise several projects in 2019 including a 75,000 m2 logistics platform in Alcalá de Henares and a 33,000 m2 asset in León.

In Illescas (Toledo), the new logistics hub of central Spain for the development of large logistics warehouses, the Australian giant is going to start building a facility spanning more than 66,000 m2 this year.

Goodman Group is present in Continental Europe, the United Kingdom, the Asia-Pacific region, North America and Brazil, and has a portfolio of assets under management worth €24.3 billion.

Original story: Eje Prime 

Translation: Carmel Drake

SEUR Logística to Unify its Madrid Warehouses into a New Centre in Illescas

11 January 2019 – Inmodiario

SEUR Logística, the SEUR business unit dedicated to offering integral logistics and transport solutions, is going to consolidate its warehouses in the Community of Madrid into a new facility in Illescas.

Goodman, one of the leading companies in the world in industrial properties, will begin construction of the new 36,000 m2 centre in March 2019. The site is expected to be operational from the beginning of 2020, allowing the company to expand its storage capacity and improve the efficiency of its operations in Madrid.

The new warehouse will be constructed in accordance with strict sustainability criteria and will incorporate new charging points for SEUR’s electric vehicle fleet.

The launch of the new warehouse in Illescas will involve the unification of SEUR’s existing logistics operations at its centres in Getafe (15,000 m2) and Alcalá de Henares (almost 12,000 m2). The new centre will house 200 workers and will contain 1,600 m2 of space dedicated to offices and rest areas for employees (…).

Original story: Inmodiario 

Translation: Carmel Drake

Mountpark to Build its 4th XXL Warehouse in Madrid

21 November 2018 – Eje Prime

Mountpark is getting a taste for the Iberian Peninsula. The logistics vehicle, specialising in the development of XXL assets, is going to start work on its fourth warehouse in Madrid in the middle of 2020, on a site spanning 100,000 m2, located in the south of the Spanish capital.

Including that plot, the company currently has a portfolio of land in the country that exceeds 330,000 m2, which it expects to expand very soon with new purchases in Barcelona and Valencia, according to explanations provided by John Derweduwe, the Director General of Mountpark for Spain and Portugal, to Eje Prime.

The group does not want to delay its entry into Portugal any longer. “We are on the verge of closing the purchase of a new plot in Lisbon”, said the Director, who added that his firm has been preparing its debut in the Portuguese market for some time. The delay has been due to the difficulty in finding the right plot to develop warehouses measuring between 80,000 m2 and 100,000 m2, which has been Mountpark’s main objective since its creation in 2017.

Whilst it continues to identify new plots on the Peninsula, the company is focusing its efforts on the development of three of the assets that it already owns in Madrid: two spaces in the Iberum Central Platform in Illescas (Toledo), which span almost 135,000 m2 and a third site in Alcalá de Henares, measuring 100,000 m2.

In fact, yesterday, the first brick was laid in Mountpark II, the e-commerce logistics platform measuring 44,000 m2 that the group is building for the logistics operator XPO, with an investment of €30 million.

The space will be leased to the Swedish fashion retail giant H&M from June 2019 and represents a “great opportunity for economic growth in the region”, according to the President of Castilla-La Mancha, Emiliano García-Page, on the first day of construction at the complex (…).

In search of the giants of the future

Mountpark is on the hunt for buyers for its projects in Spain. After signing its first contract with XPO Logistics, the company now has several firms interested in Mountpark I, the second logistics platform that it owns in Illescas, measuring 90,000 m2, as well as the complex that it is planning to construct in Alcalá de Henares.

“Our potential clients fit one of three profiles: logistics operators, large companies in the world of technology and the automotive industry, and retail giants who want to commit heavily to e-commerce”, explained John Derweduwe (…).

The parent company of the Iberian subsidiary led by Derweduwe is Mountpark Logistics, a joint venture between Usaa Realco-Europe Holdco, the Dutch subsidiary of Usaa Real Estate and Mountpark Finco Sarl (Mountpark). The joint venture promotes large logistics buildings across Europe, but with the focus placed primarily on the United Kingdom, Western Europe and Central Europe. Mountpark owns a portfolio comprising 16 assets with the potential to offer more than 1.85 million m2 of logistics facilities in the continental market.

Original story: Eje Prime (by B. Seijo)

Translation: Carmel Drake

Realia Starts Building Homes with the Launch of 5 Developments

1 July 2018 – Expansión

The real estate company controlled by Carlos Slim has resumed its property development business with the launch of five new promotions, comprising 594 homes that, when they are handed over, will generate revenues of €208 million.

Realia is planning to continue to launch new developments on the portfolio of land that it owns, but it is also investing in new plots, such as the one it purchased recently from the Ministry of Defence in Alcalá de Henares (Madrid) for €27.5 million.

This is the first acquisition of land that the company made since the Mexcian magnate took control, which saw it join the wave of investments that companies in this area are undertaking in the land segment in light of the reactivation of the sector.

Nevertheless, after Realia stopped building homes at the beginning of the crisis, it now has a land portfolio spanning 1.85 million m2. The company says that it now has some of these plots under development in Madrid, Cataluña and Levante, areas that currently account for the greatest demand in terms of housing.

The real estate company includes the launch of new developments as a key strategy in the new phase that it is undertaking following the clean-up carried out since Slim acquired his share capital

This week, at its General Shareholders’ Meeting, Realia said that it is “ready” for the new real estate cycle, following the reduction and restructuring of its debt and the cutback in expenses, measures that it considers “are already reflected in the income statement”.

Original story: Expansión

Translation: Carmel Drake

Kutxabank Sells 18,000-Square-Meter Plot of Land in Madrid to Top Gestión Madrid

23 March 2018 – EjePrime

The company will build a development with 154 publicly protected homes on the land, located in Alcalá de Henares.

The Basque Kutxabank is selling its real estate holdings. The bank sold the 18,173-square-meter site to Top Gestión Madrid, which has already announced that it will build a development with 154 publicly protected homes (Vppl – subsidised housing) on the land, located in Alcalá de Henares.

The plot, located in ​​Espartales Norte, belonged to the Basque savings bank Kutxa, which incorporated the land into Kutxabank when the three main Basque financial institutions merged in 2012.

The apartment blocks that were designed for the development have seven floors each with penthouses and will be built following the principles of sustainable architecture. The venture is a response to the currently elevated demand for residential assets in the Henares Corridor.

For Top Gestión Madrid, a newly created company, the operation involves “continued growth, while reinforcing the geographical diversification of our portfolio of land,” its general-director, María Emilia Alarcón stated. The company’s portfolio consists of fifteen ventures in various stages of development, including completed projects, works in progress and those about to go on sale, in Madrid and Andalusia.

Original Story: EjePrime

Translation: Richard Turner

Baraka Invests €40M in Another Logistics Asset

13 March 2018 – Expansión

Grupo Baraka, the corporate holding company chaired by the Murcian businessman Trinitario Casanova, is maintaining its commitment to the logistics sector. After purchasing a plot spanning more than 30,000 m2 in Barcelona from Consum in February for the construction of a logistics warehouse, the company has now acquired 95,600 m2 of industrial land in Alcalá de Henares (Madrid) on which it is going to construct a logistics platform.

Grupo Baraka plans to invest around €40 million in the project, including the acquisition of the plot and the commissioning of the logistics platform, which is expected to be ready within eight months and which will occupy a surface area of 45,000 m2, according to explanations provided by the company yesterday.

Specifically, the land acquired by the real estate group is located on the El Encín industrial estate, where the US multinational Owens Corning used to operate a factory, until two years ago.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake

Realia Buys Land & Reactivates Its Property Development Business

12 March 2018 – Expansión

Realia, the real estate firm controlled by Carlos Slim (pictured below), has acquired a plot of land in Alcalá de Henares (Madrid), with a buildable surface area of 44,755 m2, from the Ministry of Defence for €27.5 million. This is the first land acquisition that the company has undertaken since the Mexican magnate took control of the entity, and sees it join the wave of investments that companies in this segment are making in land in light of the reactivation of the sector, reports Europa Press.

In the case of Realia, the land purchase forms part of the reactivation of its construction and house sale activities, which it had suspended, firstly due to the crisis and, subsequently due to the process to restructure and clean-up the company. In this way, it is going to allocate this land to undertaking one of its first three housing developments. The other two, which are going to be built on the portfolio of land that the company already owns are located in Sabadell (Barcelona) and Palma de Mallorca.

Strategy

Realia’s strategy to resume its property development activity involves analysing new build construction projects in “areas where demand is consistent and the supply is very low or new”, such as specific areas of Madrid and Barcelona and “certain other places with the same market characteristics”, according to a statement made by the firm in its annual report for 2017.

That is one of the company’s main objectives for 2018, together with the improvement in margins through the streamlining and optimisation of expenses, and the recovery of prices.

Original story: Expansión

Translation: Carmel Drake

New Build Homes Return to La Moraleja Thanks to Miguel Ángel Ruiz

9 January 2018 – Eje Prime

New build homes are returning to La Moraleja. The exclusive residential complex in Madrid has expanded its community with the incorporation of 100 homes corresponding to the Camino Ancho 2 development, a project led by the businessman Miguel Ángel Ruiz, through the company ‘Universal de Negocio e Inversiones’, which he owns jointly with Carlos Cutillas (50% each). The keys for these properties are expected to be handed over during the coming months.

The businessman from Soria, who owns a home in the same urbanisation, acquired, together with Cutillas, the owner of Inmobiliaria Chamartín, land in La Carrascosa, a plot that had been owned until then by Luis Rodríguez Durón, according to El Confidencial.

Ruiz is a player who is backing the Spanish residential sector hard after making his fortune in Mexico, where he emigrated to when he was young in search of work. A successful man on the other side of the pond, the property developer owns several assets in the Aztec country, including The Point, a complex of homes, offices and businesses in the Mexican capital.

Similarly, the businessman is also a partner of Dunas Capital in the development of its recently created real estate company, Viveland. The agreement between those two parties includes several purchase options over the plots of land located around an urbanisation in Alcalá de Henares, in Madrid, where the company could build almost 350 homes.

Original story: Eje Prime

Translation: Carmel Drake

Dunas Capital’s RE Arm Creates Property Developer Viveland

5 January 2018 – Eje Prime

Dunas Capital is immersing itself even further into its real estate business. The financial group led by former executives of Banco Santander and Aviva is betting on the property developer segment with the launch of Viveland.

This new venture from Dunas is currently constructing 53 homes in the Madrilenian town of Alcalá de Henares, according to El Confidencial. Nevertheless, the agreement includes several purchase options over the land surrounding that urbanisation, which would allow Dunas Capital to promote around 350 homes.

Dunas has financing amounting to €1 billion to carry out various operations in Spain. Viveland has been created out of that investment and there are plans afoot to launch other types of companies across various sectors.

Original story: Eje Prime

Translation: Carmel Drake