PATRIZIA AG, a leading partner for global real assets, has sold two logistic assets for around EUR 150 million in the greater Madrid area to Real I.S., a real estate investment manager.
PATRIZIA originally bought the two assets in the Madrid districts of Getafe and Torrejón, in 2015/16 and since then has transformed the sites into prime logistics facilities, attracting tenants such as Amazon, Leche Pascual and GM Food.
The asset in Getafe comprises a single 60,000 sq m warehouse leased to Amazon. The one in Torrejón spans two multi-tenant warehouses with a total surface of around 50,000 sq m and is currently leased to leading Spanish multinationals such as Leche Pascual and GM Food.
After this transaction, PATRIZIA’s logistics portfolio in Spain still comprises more than 500,000 sq m and assets under management valued at nearly half a billion EUR. The value of PATRIZIA’s assets under management in Spain and Portugal currently stand at over EUR 1.3 billion.
Source : PATRIZIA