Logic Spain KCRE, a €100 mln joint venture backed by Brunswick, Grosvenor and Kefren Capital, has acquired a 15,200 m2 logistics scheme near the northeastern Spanish port city of Tarragona.
Located in La Bisbal del Penedés, the platform was built in 2005 on a total plot area of 25,000 m2. The total built area amounts to 15,252 m2, including 500 m2 of office space. The scheme is currently let to Applus Idiada, which is active in designing and testing for the automotive industry.
The asset is Logic Spain KCR's second investment. It is located five minutes away from the AP-2 (Madrid-Barcelona) and AP-7 (Mediterranean Corridor) highway junction, 40 minutes from the Barcelona Port and 20 minutes from Tarragona Port. The logistics park has direct access to Applus Idiada’s large proving grounds, where the company carries out its automotive tests.
Logic Spain KCRE is a joint venture between Brunswick Invest, the principal investment arm of Brunswick Real Estate, the international property Group Grosvenor, and the Spanish investor Kefren Capital. The objective is to to invest more than €100 mln in logistics assets in the Spanish market, mainly following a value-add strategy.
The joint venture is led by Spanish asset management firm Kefren Capital Real Estate (KCRE) and was advised by Bufete Buigas on the legal side and Mace on technical matters. The transaction is financed by Kutxabank. The seller was advised by JLL during the process.
