Patrizia negotiates with Real I.S. sale of €150M logistic portfolio

Patrizia negotiates with Real I.S. sale of €150M logistic portfolio

Amazon Getafe, Madrid

This portfolio includes the Amazon Getafe centre, a logistic platform with more than 60.000 sqm which should be occupied by the online commerce giant in the Fall and for a long period. Real I.S. is also negotiating the acquisition of two more assets, according to elEconomista, two multitenant warehouses with a total combined area of 50.000 sqm located in Torrejón de Ardoz, a Spanish municipality which belongs to the Community of Madrid.

This operation is at an advanced stage of negotiations and it is being advised by consultant CBRE. According to the same newspaper, there are no other proposals on the table, so the sale is being negotiated exclusively with Real I.S.

The high demand for logistic units generated by the e-commerce boom motivated both the sale by Patrizia and the investment from Real I.S.

Despite this divestment in the segment, Patrizia’s activity during the last few months was directed towards acquisitions. An example of that is the purchase of the Mercury portfolio (which includes Amazon’s future centre) for 213 million euro and the acquisition of SEAT’s suppliers’ industrial park, in Barcelona, for 26 million euro.

Real I.S. too has been active in the Spanish real estate market. In July, the company concluded the purchase of the Las Ramblas 124 building in Barcelona, which has both offices and retail areas.

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