MADRID, 11 April 2016 – CBRE Global Investors has completed the acquisition of a portfolio of 16 logistics assets totaling 250,000 sqm on behalf of one of its separate account clients.
Metrovacesa and Parques Intermodales Gran Europa have sold the portfolio that is located in the third ring of the Henares corridor, along the A-2 motorway (Madrid-Barcelona), which constitutes one of the main logistics hubs in Spain.
The portfolio consists of 16 properties leased to 10 logistics operators, such as DSV, Luis Simoes, FM Logistics, XPO and Logiters. The occupancy rate is at around 94% and the properties are of a high quality construction, with good access and proximity to the A-2 motorway and the R-2 toll highway, which make them a great choice for carrying out logistics activities.
Jose Antonio Martin Borregón, Managing Director Spain and Portugal, CBRE Global Investors, said: “The acquisition of this logistics portfolio confirms our interest and confidence to build on our already existing long track record of investments in this sector in the Iberian Peninsula.”
Jeroen de Grunt, Portfolio Director Separate Accounts Continental Europe, CBRE Global Investors, said: “Our client is actively acquiring logistics assets across Continental Europe. This high quality portfolio has an attractive tenant mix and shows a clear upside potential.”
CBRE Global Investors was advised by Aguirre Newman, DLA Piper, PWC and Eurocontrol. Metrovacesa and Parques Intermodales Gran Europa were advised by CBRE.
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.0 billion in assets under management* as of December 31, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.