Real estate manager Real IS has invested €150m to buy two logistics assets in Spain from Patrizia.
Real IS has bought a 60,000sqm asset in Getafe leased to Amazon and a 50,000sqm multi-tenant asset in Torrejón.
Patrizia said it originally acquired the assets in the Madrid districts in 2015 and 2016 and since then has transformed the sites into prime logistics facilities.
Following this transaction, Patrizia’s logistics portfolio in Spain still comprises more than 500,000sqm and assets under management valued at nearly half a billion euros, the manager said, adding that its assets under management in Spain and Portugal currently stand at over €1.3bn.
Eduardo de Roda, Patrizia Country Manager for Iberia, said Patrizia remains committed to our logistics assets which make up around a third of the firm’s entire real estate portfolio in Spain.
“Despite the challenging market conditions, we are fully on track to deliver on our local business growth objectives for Iberia.”
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