Mileway, Blackstone’s last-mile logistics platform, has bought a 13,000sqm portfolio in Spain from Transportes Gallastegui.
Mileway has paid the Spanish logistics company an undisclosed sum to buy the four fully-let cross-dock assets located Madrid, Barcelona, Valencia and the Basque Country.
With the latest acquisition, Mileway said it now has more than 60 assets in Spain. In total, the company owns more than 1,300 last-mile properties across nine major European economies.
Guillermo Ravell, country director for Mileway Spain, said: “We continue to see growing demand from companies across Spain for last-mile logistics real estate, primarily driven by the strong growth in e-commerce.
“These four assets strengthen our existing portfolio in Spain and will enable us to better connect our customers to the consumers and local communities they serve.”
To read the digital edition of the latest IPE Real Assets magazine click here.