Green Logistics by Aquila Capital, the development division dedicated to Aquila Capital's logistics business in Europe, has finalised the purchase of a 75,000 m2 logistics site in Málaga’s Santa Teresa Industrial Park.
Financial details were not disclosed.
According to the firm, the area will be used for the development of logistics space ranging from 15,000 to 47,000 m2. The company is moving into the Santa Teresa Industrial Park, a leading logistics centre in Málaga, to revive the former Bacardi factory site, which was in operation for several decades but has remained out of use since 2008.
Rolf Zarnekow, head of investment management real estate at Aquila Capital said: 'The project underlines our commitment to sustainable and energy-efficient logistics investments and fits seamlessly into our growth strategy for the Spanish logistics market.
'As typical for Aquila Capital, we create added value for all parties involved by following our threefold strategy of sustainability, best rental terms and attractive investment opportunities for our investors.'
Aquila Capital said the deal represented its first logistics project in Málaga and the second in Andalusia, where the company already owns a logistics site in Alcalá de Guadaíra, Seville, since October 2020.
The area is situated in a prime location within the first distribution zone of the city of Málaga. With a population of around 860,000, Málaga is the sixth largest metropolitan region in Spain.
As part of the project, Aquila Capital plans to build state-of-the-art big box logistics space which can be tailored to the needs of the tenants. The facility will feature a concrete structure of up to 12 metres in height with wide manoeuvring areas.
Aquila Capital's Green Logistics arm focuses on sustainable aspects, including Breeam certification, the installation of rooftop photovoltaic panels, and the compensation of CO2 emissions. These measures help the customers and tenants of Green Logistics’ assets to comply with their CSR and ESG policies. They also help reduce the tenants’ energy costs, while providing access to specific tax incentives associated with the use of renewable energy sources in the context of industrial purposes.
The deal expands Aquila Capital's Iberian developments to over 750,000 m2.
