The asset, which is fully leased to Decathlon through a long-term contract, has a 50.520 sqm GLA and is located on a plot of land with more than 90.000 sqm. The logistic platform, with an average height of more than 12 meters, was built in 2011 and has two differentiated areas (6 modules in one area and 2 modules in the other) connected through the reception and office building.
Fernando Ramírez de Haro, general manager at Savills Investment Management for Spain and Portugal commented that «our investment goal until the end of the year is to achieve a 1.200 million euro portfolio in the Iberian Peninsula and we believe that logistic assets will be fundamental for this growth strategy. This A level logistic platform, located in one of Europe’s best logistic centres, represents a unique opportunity».
Daniel Hohenthanner, manager of fund ELF-2, added that «our investors benefit from our excellent network within the market, as we showed once again with this acquisition made outside the market. We are very happy for having carried out this top-level investment for our fund ELF-2. Furthermore, we are reviewing four other acquisitions, and we will soon provide information concerning additional investments. We are also looking for new offices, logistic and retail assets in Europe».
The buyer was provided technical advisement by Savills Aguirre Newman and legal counselling by Eversheds Sutherland.