Prologis bought 4 of these warehouses, and Blackstone bought the fifth. They are located in established logistic markets such as Madrid, Barcelona or Vitoria, in the North of the country. Together they have more than 90.000 sqm and are almost fully occupied with long term contracts , according to Spanish Real Estate.
Pelayo Primo de Rivera, KCRE’s CEO, pointed out that «the sale of our logistic portfolio shows our commitment to an asset rotation strategy. After these successful sales, we are looking for new added value opportunities to invest with relevant co-investors».
CBRE and Knight Frank advised the sellers in this business.