This purchase is part of its investment strategy across Europe. The property has an area of 56,000 square metres and is let out in entirety to Ceva.
Adolfo Favieres, Director in Spain for Barings Real Estate Advisers stated, "We believe in the attractive supply/demand dynamic in the Madrid logistics market which is holding up well in a growth economy. It is likely that the continued growth of the market in online sales will have a significant impact on the demand for high quality, well located logistics units, like this main investment,” quotes Spanish Real Estate.
In turn, Gunther Deutsch, Director of European Transactions at Barings Real Estate Advisers, said, “This transaction, our second in Spain in just a few months, is a fine example of our strong appetite for investments in the region. Our main focus is in the more minor sectors, logistics and offices, via a range of risk ventures based on added value being able to advance fund development.”