Thor Urban Link, a division of Thor Equities Group, has announced the acquisition of a prime last-mile logistics portfolio in Valdemoro south of Madrid.
Thor has purchased the assets through an off-market opportunity from a private seller.
The purchase price was €25.2 mln for an existing building of 31,000-m2 and 7,500 m2 of development land. The assets are 95% occupied by Seat with a five-year unexpired term (including a Porsche distribution center). Seat is owned by Volkswagen Group and is the largest employer in the industrial sector in Spain.
‘We are excited about this latest acquisition in the Madrid market which includes a prime commercial building and an additional development site. Following on the heels of our other recent acquisitions in the Southern European market, this development site will offer Urban Link the opportunity to continue to expand our growing footprint in Spain for premier last-mile industrial and logistics space which has been in great demand throughout the European market as well as in the U.S. and Mexico,’ said Chairman of Thor Equities, Joe Sitt.
