Mapletree Investments has acquired its first UK logistics asset and 10 others in Spain for €315.1m to seed its planned second European logistics fund.
The Temasek-backed Singapore-listed company said the new fund would be launched at an appropriate time after achieving sufficient scale.
Unlike its predecessor, the new vehicle would have a presence in the UK, with Mapletree having bought a fully-let logistics an asset at Derby Commercial Park, situated near the city centre and the East Midlands Airport.
The 256,000sqm portfolio in Spain is concentrated across the first rings of Barcelona, Valencia and Madrid.
Ralph van der Beek, CEO of commercial and logistics, Europe, Mapletree, said: “Logistics remains a highly attractive sector that has consistently enjoyed strong demand from occupiers as well as investors. E-commerce continues to thrive, and companies are making efforts to secure and expand their supply chains.
“We are excited to expand our footprint into the UK as well as in Europe and look forward to these institutional quality assets delivering stable and recurring returns over the long run.”
Since entering the European logistics market in 2018, the group has now 80 assets across eight countries. Among these assets, 62 are held in its Mapletree US & EU Logistics Private Trust which invests in the US and Europe.
In addition to logistics, Mapletree owns and manages office, mixed-use and rent housing properties in these two markets, totalling over €4.3bn in assets under management as of 31 March 2024.
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