PATRIZIA AG, a leading partner for global real assets, has forward purchased the development of four logistic warehouses on behalf of its institutional investors for EUR 50 million at a logistics park located in Valdemoro, within the greater Madrid area. The construction of the 65,800 sq m development is expected to be completed by 2022.
In addition to its excellent location and transport links through the A-IV motorway, the warehouses will benefit from modular, state-of-the-art design, providing flexibility to the future tenants.
This latest transaction further strengthens PATRIZIA’s footprint in the Spanish logistics sector and in the Madrid region in particular where the company already has more than 515,000 sq m of logistics space and 652,000 sq m across the whole of Spain. Overall, logistics makes up around 40% of PATRIZIA’s assets under management in Iberia. The value of PATRIZIA’s assets under management in Spain and Portugal currently stand at over EUR 1.35 billion.
Source : Company