European logistics real estate firm Delin Property has sold a 110,000sqm portfolio of two assets in Spain’s capital city to EQT Exeter for €100m.
Delin said it has sold the Alcalá East Madrid Park in Alcalá de Henares and South Madrid Logistics Park in Illescas.
Delin has been active in the Spanish logistics market since 2018, developing the two parks and leasing all available space. The company is now redeveloping a 2.2ha site in Coslada, Madrid, for a 13,363sqm warehouse facility.
Tom Wattles, Delin’s CEO, said: “The sale of these parks crystallises six years of value creation and showcases what we do best: mastering each step of the development chain to deliver modern, sustainable logistics parks in prized locations.
“As stabilised, quality assets they are now ready for an institutional owner and the parks’ customers will have an excellent new partner in EQT Exeter.”
Isaac Núñez, Delin’s MD for Spain, said: “The sale of our first two parks is far from the end of our journey in Spain as we have our ongoing Coslada project. We’re on the hunt to acquire more value-add and development opportunities where we can bring our expertise to bear and replicate our successes in Alcala and Illescas.
“We’re looking in the Madrid region and beyond to other key locations, such as Barcelona and Valencia.”
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