AXA IM Alts has invested an undisclosed sum to buy a newly developed last-mile logistics asset in Spain from developer Acciona.

AXA IM Alts said the acquisition of the fully-leased 58,000sqm in Barcelona presents a significant opportunity to increase the firm’s exposure to high-quality last-mile logistics in Spain.

This acquisition adds to the firm’s portfolio of 158 European logistics assets located across key distribution hubs in 11 countries, and brings its European logistics assets under management to over €5bn, spread across 5.5m sqm of mainly big box or last-mile urban logistics space, the manager said.

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