Stoneweg, a Geneva-based real estate investment adviser and asset manager, has secured the acquisition of a 211,668 m2 industrial site in the suburbs of Madrid for an undisclosed amount.
The site, which was formerly a Coca-Cola plant, will be entirely redeveloped by Stoneweg to create a grade A logistics park. The major project, which has the potential to deliver over 110,000 m2 of logistics space, is expected to complete in early 2024.
‘The Spanish market has a scarcity of grade A industrial stock and last year Madrid saw its highest take-up of warehouse space in a decade,’ commented Jaume Sabater, founding partner and CEO at Stoneweg. ‘The availability of land for logistics facilities is also difficult to come by, particularly in the capital, and this transaction is a strong example of where we were able to leverage our network of local relationships to source a rare opportunity.’
Stoneweg has been present in Spain since 2015, having invested over €1.7 bn in that market across both equity and debt strategies, including residential development for sale and rent, as well as bridge loan strategies.
