Investment in logistics during the 1st quarter reaches around €390M

Investment in logistics during the 1st quarter reaches around €390M

The data is reported by consultant CBRE, which advanced this Thursday that the most relevant operation in terms of logistic investment during this year’s first quarter, was the purchase of assets from Mercury and Koning’s portfolios. It is estimated that this operation represents around 62% of the 390 million euro traded during the first quarter, which represents around 241.8 million euro. The names of the companies involved in this transaction were not disclosed.

Another operation that stood out was the sale of a 4 logistic unit portfolio located in Algete, Madrid, belonging to American asset management company Barings. The operation represented a 42.8 million euro investment.

Also relevant was the acquisition of a 9.760 sqm logistic centre in Pla de Santa Maria, Tarragona by Exeter Property Group for an undisclosed amount.

Occupancy drops and yield contracts

Despite the logistic segment being considered one of the most resilient against the Covid-19 pandemic crisis which is currently devastating the country, in terms of occupancy, it reached a total contracting of 288.000 sqm, 38% less yoy. 108.900 sqm of this contracted area was occupied in the Catalan region and 129.000 sqm in the country’s central region.

While the prime rent values remain the same as last year – 5.5 euro/sqm/month in the central region and 7 euro/sqm/month in Catalonia – prime yields keep contracting when compared to 2019, is set at 5% in both regions. CBRE’s predictions point towards a 0.25% increase in the coming months.

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