Clarion Partners Europe has acquired a 51,000sqm logistics portfolio in Spain on behalf of its funds.

The real estate investment fund manager said it has acquired an in Azuqueca de Henares in Madrid, a cross-dock facility in Getafe in Madrid and a newly-built logistics platform in Plaza in Zaragoza.

Financial details were undisclosed.

The latest deal furthers Clarion Partners Europe’s footprint in Spain which now totals 350,000sqm. In total, Clarion Partners Europe now holds 17 assets in and around the key conurbations of Madrid, Barcelona, Seville and Zaragoza.

Alistair Calvert, CEO of Clarion Partners Europe, said: “Despite an increasingly competitive investment market, the strength of our on the ground relationships and track record ensures we can continue to source and execute on assets and portfolios characterised by their sought after location and the quality of the income.

“These are tenant critical assets located in what are some of Europe’s most dynamic e-commerce markets where we believe we can achieve an attractive combination of rental and capital growth and where we have the ambition and expertise to continue scaling our exposure.”

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