Hines has acquired two logistic plots to develop warehouses in Madrid, covering a total of 31,000 sqm. Specifically, in the industrial park of Atalayuela, in Vallecas. The acquisition was made on behalf of its Hines European Value Fund 2 (HEVF 2).
A 21,000 sqm warehouse will be developed on the first plot, while the second is a 10,000 sqm turnkey operation signed with Acciona's real estate division. Both Class A logistics facilities are aiming for Breeam Excellent certification.
With these operations, Hines continues to increase its portfolio of logistics assets in Europe, where it already has more than 2.4 million sqm of gross leasable area, which compared to the 1.3 million sqm it had a year ago represents a 81% increase.
"Atalayuela is the second acquisition of HEVF 2 in Spain, after Valdebebas 125, the 31,000 m2 residential project located in one of the fastest growing districts of Madrid. We continue to detect opportunities and value both in Spain and in the logistics sector. The location de Atalayuela is important, as we anticipate strong long-term growth prospects for logistics assets in Madrid, especially given the shortage of class A product in the market. This project will be developed according to the demand of the occupants, including specifications Class A techniques and flexible design for a single or multi-tenant arrangement, "says Paul White, senior managing director of Hines and manager of the Hines European Value Fund II.
Vanessa Gelado, director of Hines in Spain, stated that "these acquisitions allow Hines to take advantage of its pan-European platform to develop critical infrastructures for the Community of Madrid. We continue to expand our portfolio of assets in Spain with the desire to deepen both the logistics and logistics sectors. housing, especially in strong locations like this. Atalayuela has fantastic connectivity for last-mile commerce and offers the opportunity to benefit from the expansion of e-commerce".
"We are delighted to have reached a satisfactory agreement in a key location for Acciona Inmobiliaria such as Atalayuela. On the one hand, it strengthens our relationship with a leading global real estate investment firm, following the success of our ongoing residential development in Valdebebas 125 , and on the other hand we position ourselves as a key promoter in the booming logistics sector in Spain, in which we foresee significant growth for the next decade. The promotion of Atalayuela will once again reflect Acciona's corporate values, reaching the highest standards of sustainability in all our projects ", declares Andrés Pan de Soraluce, general director of the real estate division of Acciona.