Azora, the Spanish real estate investor, says it has so far acquired €100 mln of logistics assets, having launched into the sector in 2021 with two vehicles for last-mile property in Spain.
The sector update came as Azora also announced the eighth deal - an asset from Meridia. The 24,865 m2 logitics facility is located in the Gélida municipality of Barcelona and is leased to the Dachser Group, one of Europe’s leading transport companies.
Savills advised Azora. Spanish bank, BBVA, helped finance the purchase.
According to the firm, the Spanish logistics leasing market remained ‘solid’ in 2022, with take-up levels close to 1.3 million m2 in Madrid, and over 800,000 m2 in Barcelona, reflecting some of the highest figures ever recorded.
Javier Picón, head of logistics at the firm, said: ‘Azora is well-known for its knowledge of local submarkets and for the agility it offers in terms of analysis and execution, which is essential in the logistics market.’
