Savills IM acquires two logistics warehouses in Madrid for €51.6M

Savills IM acquires two logistics warehouses in Madrid for €51.6M

The real estate manager has acquired two logistics warehouses from UBS Asset Management (UBS-AM) in Leganés (Madrid) for 51.6 million euros, according to a statement issued by the company.

The two assets total 34,969 sqm of gross leasable area (GLA). Both ships are fully leased to the logistics operator XPO Logistics and Cadyssa Douglas. In total, the company has one billion euros in assets under management in the Iberian Peninsula. The company's portfolio includes mainly office buildings, but it is open to continue acquiring in retail and growing in rental housing.

«Savills IM's logistics investment strategy prioritizes modern centers next to the main highways and transport networks and occupied by tenants with solid long-term contracts, which allow us to capture the sustained growth of electronic commerce,» says Fernando Ramírez de Haro , CEO of Savills IM.

Savills IM has been advised by Savills Aguirre Newman, Arcadis and the legal team at Eversheds Sutherland. For their part, Cushman & Wakefield, JLL and Dentons have advised UBS AM.

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