Kefren allies with Grosvenor and Brunswick in Spain

Spanish asset manager Kefren Capital Real Estate (KCRE) has established a joint venture with cross-border investors Grosvenor and Brunswick Real Estate.

KCRE said it will act as a local partner in charge of sourcing and structuring of value-added logistic investments in the Spanish market for the JV.

The partners plan to invest more than €120 mln in the coming years, the company said in a statement.

In March, KCRE had signed a similar agreement with Palmira Capital Partners, the Frankfurt-based industrial property asset manager.

KCRE is the real estate investment and asset management platform of the Madrid-based family office Kefren Capital.

Separately, KCRE sold a 35,300 m2 logistic warehouse in Meco, Madrid in mid-May to Spanish REIT Merlin Properties, for €22 mln.