Arcapita Bank's logistics asset management unit Pinnacle announced on Tuesday that it has been awarded a new management contract for 123,000 m[sup]2[/sup] of logistics space in Spain. The company will manage seven distribution facilities in the cities of Madrid, Barcelona and Zaragoza. The agreement increases Pinnacle's assets under management in Europe by 32% to over 500,000 m[sup]2[/sup].
Arcapita Bank's logistics asset management unit Pinnacle announced on Tuesday that it has been awarded a new management contract for 123,000 m2 of logistics space in Spain. The company will manage seven distribution facilities in the cities of Madrid, Barcelona and Zaragoza. The agreement increases Pinnacle's assets under management in Europe by 32% to over 500,000 m2.
The properties are recently built, modern distribution centres fully leased to international third-party logistics providers, including DSV and Spanish logistics companies such as FCC, Actea, Carreras and DIA, servicing the food industry, IKEA, and Vodafone.
Pinnacle Real Estate is an asset manager, developer and operator of distribution facilities. It was established in 2001 with offices in Prague, Bratislava, Warsaw and a liaison office in Madrid. Arcapita Bank is an international investment firm with offices in Bahrain, Atlanta, London and Singapore.
