US logistics specialist Prologis has completed the acquisition from Spanish REIT Colonial of 18 logistics facilities in Spain totalling 473,000 m2.
The assets are located in Madrid, Barcelona, Seville and Guadalajara. Financial details were not disclosed.
As part of the three-phase agreement, Prologis purchased two buildings in San Fernando de Henares totalling 56,000 m2.
In the first phase of the transaction, in August 2019, Prologis acquired 11 facilities totalling 314,000 m2. In the second phase (July 2020), it purchased five buildings totalling 100,200 m2.
All 18 logistics facilities are either BREEAM or LEED certified.
‘This transaction represents one of the largest in the Spanish logistics real estate sector in recent years,’ said Ben Bannatyne, president, Prologis Europe. ‘It follows our strategy of investing in ‘parks’ or ‘hubs’ and introduces PARKlife more widely to our customers, a European programme which improves the sustainability and environment of our parks for the people and communities who use them.’
Prologis was advised by CBRE and Clifford Chance.
