European investment manager Rockspring Property is acquiring a logistics project in Madrid for €35 mln.
European investment manager Rockspring Property is acquiring a logistics project in Madrid for €35 mln.
Rockspring has agreed the forward purchase of the 50,000 m2 logistics park at Torrejón de Ardoz, on behalf of a private client. The vendor is industrial property and warehouse developer Inversiones Montepino.
Once complete, the park will be located in the heart of a consolidated logistics and distribution sub-market, close to Barajas Airport, and will benefit from easy access to the A2 motorway that connects Madrid to Barcelona and to the rest of Europe. Construction is expected to start immediately, with completion targeted for the last quarter of 2015. The new building will be LEED-certified.
Jo De Clercq, partner at Rockspring added: 'The acquisition of this logistics asset enhances our growing portfolio of European logistic facilities and we are actively sourcing similar investment opportunities in cities that have a strategic part to play in Europe’s growing logistics infrastructure.'
Rockspring was advised by Hogan Lovells whilst ProEquity, CBRE and Cuatrecasas acted for the vendor.