CapitaLand Ascendas REIT (CLAR) has entered the Spanish market with the purchase of six industrial assets for approximately S$185.4m (€124m).
The 98,825sqm logistics portfolio comprises two grade A logistics assets in Madrid and four others in Barcelona.
William Tay, executive director and CEO of CapitaLand Ascendas REIT Management, CLAR’s manager, said: “Our first acquisition in Spain deepens CLAR’s presence in Europe and enhances the scale, quality and geographic diversification of our logistics portfolio.
“CLAR’s logistics assets now span five countries with a total value of approximately S$4.7bn. The acquisition aligns with our disciplined investment strategy of acquiring modern, well-located assets in developed markets with healthy fundamentals. The six prime Grade A assets are situated along major highways and primary transport corridors with superior accessibility, and are fully occupied by reputable companies, underscoring the quality of the portfolio.”
CLAR said Spain’s strategic location and good infrastructure served as a gateway to Europe. And its central geographic position between Latin America and Asia, coupled with increasing flight connections, was key to Madrid’s consolidation as an international air cargo hub.
Post-settlement, the Singapore trust will own S$18.5bn - an increase from 24% as at 31 December 2025 – worth of logistics properties located in Singapore, Australia, the US and Europe.
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