Starwood Capital Group, the global private equity firm focused on real estate, has acquired, through its controlled subsidiaries, a 39,000 sqm logistics warehouse in Seseña (Toledo). Located at the foot of the A-4 and with great visibility, the asset enjoys direct communication with the motorway, the main communication route between the centre and the south of the peninsula. This acquisition was made by the SOF XII fund and is the latest purchase of the ILEX portfolio by Starwood Capital from Meridia Real Estate III, under a previously announced agreement.
Ignacio Sagüés, Starwood Capital's country manager for Spain, explained: "This transaction reinforces our commitment to the Spanish logistics market, which we will enter in 2021. Starwood continues to have a strong interest in expanding our portfolio in this asset class, we are seeing the market performing very well in terms of contract levels and there are good growth prospects for 2023".
New and sustainable
This logistics asset, located in Seseña next to the A-4 motorway, will have the BREEAM Very Good sustainability certification, which guarantees the highest standards of sustainability and will be a great attraction in terms of marketing.
The logistics sector remains buoyant and there is no sign of investor appetite waning after its strong performance during the pandemic. In fact, contracting in Spain recorded 465,000 square metres in the second quarter of the year and it is estimated that by 2023 around 740,000 square metres of new logistics product will be on the market in Madrid and 500,000 square metres in Barcelona, according to data from JLL.