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

ID Logistics Buys Logiters From Corpfin Capital For €85M

28 June 2016 – Expansión

The multinational logistics space management company ID Logistics has purchased Logiters, manager of logistics surface areas and owner of warehouses in Spain and Portugal. The company, which was owned by the private equity fund Corpfin Capital, has been valued at €85 million.

Logiters manages 50 logistics warehouses, with capacity of more than 750,000 sqm, spread across different locations in Spain and Portugal. In 2015, it recorded revenues of €250 million and closed the year with a workforce of 3,300 employees.

The aim of ID Logistics is to strengthen its presence in these two markets, as well as to grow in the sectors in which Logiters is very specialised, such as pharmaceutical and automotive logistics.

Following this acquisition, ID Logistics also strengthens its position in Europe, which accounts for 82% of its business. The operation is subject to approval by Spain’s National Commission for Markets and Competition.

The buyer

ID Logistics owns more than 200 platforms across fourteen countries, representing a combined warehouse surface area of more than 4.3 million sqm in Europe, Latin America, Africa and Asia. The company employs 15,000 people in total.

Meanwhile, Corpfin Capital is an independent private equity firm that focuses on the local and international expansion of Spanish SMEs. It took control of Logiters two years ago.

According to Álvaro Olivares, Partner at Corpfin Capital, “over the last two years, we have accompanied Logiters through a major recovery process”. And he added that now, “under the management of ID Logistics, the company will be capable of realising its full growth potential”.

Original story: Expansión (by M. A.)

Translation: Carmel Drake