Spanish mall operator Neinver and US private equity group Colony Capital have acquired a portfolio of 23 logistics assets in Spain from Zaphir Logistics Properties for €87 mln.
Spanish mall operator Neinver and US private equity group Colony Capital have acquired a portfolio of 23 logistics assets in Spain from Zaphir Logistics Properties for €87 mln.
The 151,500 m2 portfolio includes assets in 19 areas of Spain, with Madrid and Barcelona representing around 50% of the package in terms of square meters.
Banco Santander and Credit Agricole provided finance for the deal.
'This operation confirms us as one of the main operators and co-investors in the Spanish logistics sectors,' commented Neinver's CEO Carlos González, adding that logistics is one of the sectors offering best development potential in Spain at the moment.
Colony and Neinver set up a logistics joint venture in early 2015 to invest over €200 mln of equity capital in logistics assets in Europe, with a special focus on Spain and Portugal.
Neinver manages the assets, while Colony Capital contributes its real estate and financial expertise to grow the portfolio.
With the latest acquisition, the joint partners own a total of 37 industrial assets representing 261,500 m2 of space in the Iberian peninsula.
