Global real estate manager Invesco Real Estate has acquired three newly-built logistics assets in Madrid and Barcelona for €173 mln on behalf of two German seperate account mandates.
The assets comprising a total space of 189,500 m2, include logistics assets located in Abrera, Barcelona and Eastern Madrid, plus a forward-funding project in Southern Madrid. The modular properties can accommodate small and large tenants.
'The size, quality and location in prime consolidated logistics areas makes these three properties unique and gives us the opportunity to further increase our portfolio of last-mile logistics assets,' said Fernando San Juan Monje, transactions director for Spain at Invesco.
'Situated within the vicinity of Barcelona and Madrid, with direct access to the highway, these large best-in-quality assets are an attractive product for both logistics operators and investors.'
'These exciting opportunities for two of our German separate account clients have come at the right time. We have seen the still underdeveloped e-commerce sector in Spain expand rapidly in recent years, meaning that there is a great and growing demand for high-quality logistics assets today,' added Guy-Young Lamé, European research director at Invesco.
