M7 Real Estate has acquired €181m worth of logistics assets in Spain on behalf of AustralianSuper and Oxford Properties Group.
The 13 assets encompassing 138,411sqm of space were acquired in two separate transactions on behalf of the European Supply Chain Investment Partnership (ESCIP), jointly owned by the Australian superannuation fund and the real estate arm of Canadian pension fund OMERS.
Most of the assets were purchased from a joint venture between Aristeas and Partners Group, including 11 in Madrid and one in Barcelona. Spanning 108,115sqm, the 12-asset portfolio is 88% let to 14 occupiers.
An unnamed institutional investor sold the 13th asset, a 30,296sqm urban logistics park in Southern Madrid, constructed in 2022 and fully occupied by three tenants.
The transactions more than double ESCIP’s Spanish portfolio to over 225,000sqm. The partnership has now executed 11 investments across the UK and continental, bringing total assets under management to more than €1.7bn and a portfolio of over 1.31m sqm across 132 individual assets.
John Pow, managing director at M7 Real Estate, said: “Expanding our presence in the Spanish logistics market with the deployment of €181m across two acquisitions marks a significant milestone in our growth of ESCIP.
“Securing this high-quality portfolio of assets also reflects our conviction in the industrial and logistics sector and the value of strategic locations such as Spain, where we’re seeing strong urban domestic growth continue to drive rental and investment demand.”
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