Blackstone is nearing the sale of a major logistics portfolio in Spain as it looks to take advantage of the continued demand for high-quality warehouse assets. The fund is in exclusive negotiations with Singapore-based CapitaLand for the acquisition of six Grade A logistics complexes valued at approximately €130 million, according to market sources cited by Expansión.
The assets — collectively known as the Alba portfolio and managed by Logicor — comprise 99,000 sqm across two established logistics parks in Torrejón de Ardoz (Madrid) and Sant Feliu de Buixalleu (Girona). The entire portfolio is fully let, with anchor tenants including H&M and Carrefour, which operate some of their most strategic distribution hubs from these facilities. Among the flagship assets are a 23,500 sqm refrigerated and frozen food platform opened by Carrefour in 2015 and a 36,000 sqm warehouse occupied since 2012 by H&M as its supply centre for Spain and Portugal. In Girona, the properties include a platform originally developed for Trace Logistics, a subsidiary of Fluidra.
Should the transaction be completed, it would add to Blackstone’s track record of recycling capital from stabilised logistics holdings in Spain, following last year’s €215 million sale of a ten-asset portfolio to Mapletree.
For CapitaLand, the deal marks its first move into the Spanish logistics market. Listed in Singapore and active in 270 cities across 45 countries, the group manages roughly SGD 117 billion (€77.8 billion) in assets across offices, industrial and logistics facilities, data centres, hospitality and residential. It already operates in Spain through its hospitality arm, Ascott Limited, which manages Citadines Ramblas Barcelona, but has until now not entered the logistics segment.
If finalised, the acquisition would represent a significant strategic foothold for CapitaLand in one of Europe’s most resilient and sought-after logistics markets.
