10 December 2019 – Patrizia has finalised its acquisition of a major portfolio of logistics and industrial assets, including 42 buildings and projects under development in Europe. Of those, eleven, or almost a third, are located in Spain.
The company agreed to pay the US fund BentallGreenOak €1.2 billion euros for the portfolio, which includes 309,000 square meters of space in Spain, out of a total of 1.4 million square meters of pre-existing space for rent, and another 138,000 additional square meters under development.
A group of institutional investors including both a Danish and a Korean pension fund, alongside Patrizia’s Logistik-Invest Europa II fund.
Original Story: Expansión – Rebeca Arroyo
Adaptation/Translation: Richard D. K. Turner