European logistics real estate investment manager Melcombe Partners has disclosed that it has added five assets in Spain to its portfolio.
The manager said the assets which were acquired last year through separate transactions in Barcelona and Bilbao amount to 75,000sqm of assets. In Barcelona, Melcombe acquired an ongoing development and also acquired a second asset in El Prat. The manager also acquired three assets in Rubí, Sant Andreu de la Barca and Bilbao.
Financial details were not disclosed.
Albert Monserrat, managing director and country head of Spain at Melcombe, said: “Barcelona is one of Europe’s strongest logistics markets and a strategic location for institutional investors. Barcelona’s first ring is marked by superior fundamentals with low vacancy rates, high demand for assets with strong last-mile logistics features and limited and physically constrained supply of institutional stock.
“Thanks to our strong local team and excellent execution track-record, we are well positioned to continue to take advantage of the current opportunities in the Spanish logistics market.”
Melcombe currently manages a portfolio of more than 60 assets covering approximately 500,000sqm of last mile logistics space located around major European urban areas such as London, Paris, Lyon, Madrid, Barcelona, Munich, Berlin, Frankfurt, Cologne and Amsterdam.
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