Thor Equities has acquired a former Coca-Cola bottling plant in Spain for a data centre development project.

Thor has bought the former bottling plant of non-alcoholic beverages producer Casbega in Fuenlabrada in Madrid from Stoneweg which sold the asset on behalf of Icona Capital.

Stoneweg acquired the 211,000sqm former bottling plant in the Nino del Remedio Industrial Estate in 2020. At the time, IPE Real Assets reported that the real estate investment manager paid between €40-45m to buy the site.

The sale to Thor, as part of the buyer’s stated expansion plan to build up Thor Digitaland, will result in an investment of €600m and the site will be turned into a state-of-the-art data centre.

Jaume Sabater, CEO of Stoneweg, said: “Stoneweg has become a highly trusted partner of Icona, having executed the original acquisition of this asset as well as its successful sale – just two examples of our expert team’s ability to deliver strong returns on behalf of our clients. We hope to continue our relationship with Icona and look forward to working with them again in the future.” 

Max-Hervé George, at Icona Capital, said: “We worked closely with Stoneweg to locate a site of this quality in Madrid as part of our investment expansion into southern Europe. We have been very pleased that its location and opportunity has been recognised by Thor.”

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