Tag: sales of logistics assets

Singapore’s GIC to Sell Portfolio of Logistics Assets

4 January 2020 – GIC, Singapore’s sovereign wealth fund, has mandated JLL to launch the sale of a €100-million portfolio of logistics assets owned by its subsidiary in Spain, P3 Logistics.

The portfolio contains one-third of P3 Spain Logistic Parks’ assets of approximately €270 million. The socimi is currently listed on the MAB, with a market cap of 30.7 million euros.

GIC, el fondo soberano de Singapur ordenó a JLL lanzar la venta de una cartera de activos logísticos de 100 millones de euros, propiedad de su filial en España, P3 Logistics.

La cartera contiene un tercio de los activos pertenecientes a P3 Spain Logistic Parks, un total de aproximadamente €270 millones. La socimi actualmente cotiza en el MAB, con una capitalización de mercado de 30,7 millones de euros.

Original Story: El Confidencial – Ruth Ugalde

Translation/Summary: Richard D. Turner

Patrizia to Sell Amazon’s Logistics Platform in Madrid

4 January 2020 – The German firm Patrizia has decided to sell two logistics assets in Madrid. The platforms include Amazon’s logistics centre in Getafe and a warehouse in Torrejón de Ardoz. Patrizia is looking to raise 150 million euros with the sale.

Amazon’s facility in Getafe is raising the most investor interest. The 58,000-m2 asset has a long-term lease with the e-commerce giant and is located near the M-50 ring-road. Patrizia acquired the property in 2017 and paid 40 million euros to build the platform.

La firma alemana Patrizia ha decidido vender dos activos logísticos en Madrid. Las plataformas incluyen el centro logístico de Amazon en Getafe y un almacén en Torrejón de Ardoz. Patrizia busca recaudar 150 millones de euros con la venta.

Las instalaciones de Amazon en Getafe están generando el mayor parte del interés de los inversores. El activo de 58,000 m2 tiene un contrato de arrendamiento a largo plazo con el gigante del comercio electrónico y está ubicado cerca de la carretera M-50. Patrizia adquirió la propiedad en 2017 y pagó 40 millones de euros para construir la plataforma.

Original Story: Idealista / El Economista

Translation/Summary: Richard D. Turner

Patrizia Finalises Acquisition of Logistics Portfolio from BentallGreenOak

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

Sire Acquires Portfolio of Logistics Assets in Zaragoza

5 December 2019 – Strategic Industrial Real Estate (Sire), a joint venture managed by Arrow Capital Partners, has acquired a portfolio of logistics assets in Zaragoza. The deal, in conjunction with Cerberus, includes 38,536 square meters of gross leasable area worth 20 million euros. Savills Aguirre Newman and Latham & Watkins advised on the acquisition.

Sire has €2 billion to invest in European logistics and industrial assets.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Forcadell Reports That Take-Up of Logistics Assets Up 33% Y-o-Y in Catalonia

8 November 2019 – Between July and September of this year, operators snapped up 132,509 square meters of logistics assets in the province of Catalonia, an increase of 33% year-on-year. Operators took up a total of 465,352 square meters of surface area in the first nine months of the year, comparable to the year before, according to a new report by the Spanish real estate consultancy Forcadell.

Prime logistics assets have provided an average yield of seven euros per square meter per month. Second and third-tier assets paid six and 3.5 euros, respectively.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Total Investments in Spain’s Logistics Market Reach €1.1 Billion in Year to September

14 October 2019 – The total volume of investment in the Spanish logistics market reached €1.1 billion by the end of the third quarter of 2019, an increase of 22% year-on-year.

Market sources state that this increase is due to the exponential growth of e-commerce and it attendant increase in demand for logistics platforms.

In a sign of the heightened investor awareness, one of the year’s most significant real estate transactions was Prologis’s €425 -million acquisition of Colonial’s logistics portfolio.

Original Story: Bolsamania / Europa Press

Adaptation/Translation: Richard D. K. Turner