Savills Investment Management has acquired two logistics warehouses in Spain from UBS Asset Management for €51.6m.

The international real estate investment manager said the acquisition of the asset in Madrid represents the latest addition to the firm’s portfolio in the Iberian peninsula, which comprises a total volume of €1bn of managed assets.

The assets, built in the Logistics Park in Leganés in 2008, represents a total of 34,970sqm in gross leasable area distributed across the two fully-let logistics assets.

Fernando Ramírez de Haro, managing director of Savills Investment Management for Spain and Portugal, said: “We are delighted to have completed this acquisition, which is a clear reflection of our significant investment interest and capacity in the Spanish and Portuguese logistics segment.

“Savills IM prioritises modern assets located near the main highways and transport networks and occupied by tenants on robust, long-term leases, allowing us to harness the potential offered by the sustained growth in e-commerce.”

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