London and New-York-based investor Greekoak has struck a deal to acquire a brand new logistics scheme in Toledo, a strategic location for the Madrid market, by inking an agreement with local developer Pavasal.
Pavasal has acquired a 40,000 m2 plot of land in Seseña, a key logistics zone, on which it plans to construct a 30,000 m2 warehouse.
The asset will be sold to Greekoak on completion, which is expected later this year.
Greenoak, which was founded by a trio of Morgan Stanley veterans, has renewed its focus on Spain in recent months. In December, media reports said it had completed two major office transactions in Madrid.
https://propertyeu.info/Nieuws/Greenoak-buys-and-sells-in-Madrid-s-office-market/58279766-b48b-4110-bf8f-43e6ee6bcebb
Since last September, it has been actively expanding its logistics holdings across Europe, a investment programme which was kickstarted with the purchase of 720,000 m2 of industrial space across 22 assets in France and Spain.
Cushman & Wakefield advised Pavasal.
