International Industrial Properties (IIProp), a logistics platform focused on European industrial and logistics assets and owned by Madison International Realty and Griffin Capital Partners, has announced the sale of built-to-suit (BTS) logistics property in Murcia, Spain, to Hansainvest Real Assets for an undisclosed amount.
With a total GLA of 46,600 m2, the asset is fully let under a long-term agreement to a logistics company. The facility has obtained a "Very Good" BREEAM certification.
Maximilian Sauermann, Vice President, Investments at Madison International Realty, commented: 'The sale of the Spanish property is the latest example of the effectiveness of Madison’s partnership with Griffin Capital Partners and our shared business strategy for IIProp -- to generate performance while delivering high-quality logistics assets.'
The IIProp platform is developed in partnership with Panattoni, a developer of industrial real estate in Europe and the US. IIProp’s current portfolio comprises 9 projects in key logistics hubs in the Netherlands, Austria, France, Italy, Poland and Spain.
