Savills IM Acquires Warehouses from UBS
Savills Investment Management has acquired two warehouses within the Leganés Logistics Park on the outskirts of Madrid from UBS Asset Management for EUR 51.56 million.
The logsistics facilities are the latest addition to Savills IM’s portfolio on the Iberian peninsula, which includes assets under management (AuM) of approximately EUR 1 billion.
The transaction represents a total of 34,970 SQM in GLA distributed across two logistics assets. Both warehouses are fully tenanted by logistics operator XPO Logistics and Cadyssa Douglas.
Built in 2008, the assets are ideally located for domestic, international and e-commerce logistics operators, in Madrid’s first logistics belt. They also offer direct access to the M-50 ring road, with quick links to all of the main regional and national highways.
Fernando Ramírez de Haro, the company’s managing director for Spain and Portugal, comments: “We are delighted to have completed this acquisition, which is a clear reflection of our significant investment interest and capacity in the Spanish and Portuguese logistics segment.
“Savills IM prioritises modern assets located near the main highways and transport networks and occupied by tenants on robust, long-term leases, allowing us to harness the potential offered by the sustained growth in e-commerce.”
Savills Aguirre Newman and the legal team at Eversheds Sutherland advised Savills IM on the transaction.