Neinver and Colony Logistics have purchased a new portfolio of logistics properties through a joint venture between the two companies. Its portfolio is thus adding 23 logistics and cross-docking facilities in various parts of Spain, totalling around 151,500 m².
Acquired from Zaphir Logistics Properties for €87 million, the facilities are spread across 19 Spanish provinces. Half the properties are in Madrid or Barcelona. Banco Santander and Crédit Agricole financed the purchase.
Colony Logistics and Neinver formed a joint venture in early 2015 to acquire logistics assets, with the goal of investing €200 million of capital. This purchase brings the total portfolio to 37 industrial or logistics facilities totalling 261,500 m2, located in various parts of the Iberian Peninsula. The transaction also positions their strategic partnership as one of the peninsula's largest investors in the logistics sector.
Source: Property Magazine