The American REIT’s activity in Spain during the last few years, allowed it to build a portfolio with 57 logistic units, which represent 1.2 million sqm and 37 hectares. It also allowed it to reinforce its presence in the country’s two largest logistic centres: Madrid and Barcelona.
This bet was won since the logistic segment was one of the more resilient towards the pandemic crisis. The diversification in terms of space use for such segments as the pharmaceutical, food, sports and e-commerce allowed it to face the crisis with tranquillity. The e-commerce increase in Spain should «boost the logistic segment because it will attract demand», explained Cristian Oller, business director at Prologis in Spain, to newspaper El Economista. This trend may even further boost logistic investment within the country.
The American REIT concluded the purchase of Colonial’s logistic portfolio, by integrating its last 7 units, at the beginning of the month. The operation’s first stage took place last Summer when the first 11 units were traded. Prologis must have paid a total of 425 million euro to the Spanish REIT for the 18 assets.