AXA IM Alts has completed the acquisition of a newly developed last-mile logistics asset in Barcelona, Spain, on behalf of clients.
The 58,000 m2 asset was purchased from Acciona, a global leader in regenerative solutions for a decarbonised economy, which acted as developer for the project and pre-let the facility to a global e-commerce operator on a long-term lease.
Financial details were not disclosed.
Located in central Barcelona, the property comprises a bespoke last-mile logistics operating centre spread over 13,350 m2 of warehouse space alongside 44,540 m2 of parking, with capacity to accommodate more than 600 delivery vans.
AXA IM Alts said the acquisition boosts its exposure to last-mile logistics in Spain, bringing its total European logistics AUM to over €5 bn. The firm’s European portfolio spans 158 assets located across key distribution hubs in 11 countries.
