Further evidence of the growing interest in Iberian logistics has been provided by Savills Investment Management’s acquisition of two Madrid logistics warehouses, for which it has paid UBS Asset Management €51.56 million.
The assets, which have a combined GLA of just under 35,000 sq m, are located in Leganés, in Madrid’s first logistics belt. The warehouses are fully let to logistics operator XPO Logistics and Cadyssa Douglas.
The warehouses are located in the logistics park in Leganés and were completed in 2008. They have direct access to the M-50 ring road and suit domestic, international and e-commerce logistics operators.
Savills IM managing director for Spain and Portugal Fernando Ramírez de Haro said the deal is “a clear reflection of our significant investment interest and capacity in the Spanish and Portuguese logistics segment.”
Savills IM was advised on the transaction by Savills Aguirre Newman and the legal team at Eversheds Sutherland.
Savills IM’s lberian portfolio now stands at about €1 billion AUM.