IBA Capital, a real estate management company, has reached an agreement with Dia, a chain of convenience stores, to expand its logistics network in Spain. This alliance includes the development of logistics warehouses by IBA in strategic locations throughout the Iberian Peninsula, in order to facilitate Dia's expansion in the coming years. The properties will be occupied on a leasehold basis.
Although no official figures have been disclosed, it is estimated that the initial phase of the agreement will cover approximately 200,000 square metres of gross leasable area (GLA), with the possibility of expansion depending on Dia's future needs. The agreement also includes the participation of the Bertolín Group in the construction of the first project, the execution of which is imminent.
With this transaction, IBA Capital Partners strengthens its diversification strategy in the real estate market, entering the logistics sector after having focused on offices and high street retail. Last June, the company had already expressed its interest in the logistics segment.
Founded in 2013, IBA Capital manages assets worth approximately €2.5 billion and plans to invest around €500 million over the next four years, diversifying its portfolio to include logistics, residential and leisure complexes.
For its part, Grupo Dia (Distribuidora Internacional de Alimentación) operates around 6,000 shops, including own stores and franchises in Spain, Portugal, Brazil and Argentina. Headquartered in Madrid and founded in 1979, Dia is listed on the Madrid, Barcelona, Valencia and Bilbao stock exchanges.
