Catch up with the latest European commercial real estate deals summary for 17 March, which focuses on industrial and logistics purchases.

One of the Spanish assets

Logistic portfolio in Spain

Location and details: The three assets, totalling 51,000 square meters, consists of an asset in Azuqueca de Henares (Madrid), leased to German logistics group Dachser,  a cross-dock facility in Getafe (Madrid), leased to the Spanish national postal service Correos Express, and a new logistics platform in Plaza (Zaragoza), leased to Danish logistics operator DSV.
Sector: Logistics
Buyer Clarion Partners Europe
Sellers: Various
Price: undisclosed
Alistair Calvert, CEO of Clarion Partners Europe, says, “These are tenant critical assets located in what are some of Europe’s most dynamic e-commerce markets where we believe we can achieve an attractive combination of rental and capital growth and where we have the ambition and expertise to continue scaling our exposure.”

The Royal Mail Distribution Centre

Royal Mail Distribution Centre, Bristol, UK

Location and details: The 227,000 sq ft distribution warehouse is by the A38 and Filton Airfield, Bristol, UK
Sector: Industrial
Buyer Exeter Property Group
Seller: BMO Real Estate Partners
Price: £31.4 million
Matthew Howard, Fund Manager at BMO REP, says, “We are pleased to have completed this sale, which is in accordance with our strategy to diversify out of larger distribution centres into modern logistics facilities. Our conviction in the industrial sector remains resolute and we are currently in the process of reinvesting the proceeds into other assets and have made good progress with a number of new purchases in the pipeline.”

The freight center, south of Berlin

Fully-occupied logistics complex in Germany

Location and details: Märkische Allee 4-10 at GVZ Grossbeeren freight center, south of Berlin, with a gross lettable area of more than 28,900 square metres.
Sector: Logistics
Buyer Warburg-HIH Invest Real Estate
Seller: Institutional property fund managed by DWS
Price: undisclosed
Lars Bothe, Senior Transaction Manager Germany at Warburg-HIH Invest, says, “The interest shown by national and international investors on Berlin’s logistics real estate market remains as strong as ever, and was further boosted by the COVID-19 pandemic. We do not expect to see the action on the strained market to ease in the coming quarters, because demand for core assets like this one persists. Which makes it all the more rewarding to have managed to acquire this logistics property for our fund.”

The Bologna logistics complex

Grade-A logistics complex

Location and details: A 36,246 square meter asset in Anzola dell’Emilia, Bologna. It is fully let to the Conrad supermarket group. Bologna is the second-largest logistics market in Italy.
Sector: Logistics
Buyer CBRE Global Investors
Seller: Undisclosed
Price: undisclosed
Alberico Radice Fossati, Head of Transactions Italy, CBRE Global Investors says, “This was a rare opportunity to acquire a fully-let Grade A logistics asset in an attractive market with great potential. The demand for well-let, high-quality logistics assets has increased significantly in recent years, particularly in light of the pandemic, and this transaction is a strong endorsement of CBRE Global Investor’s logistics platform. Having acquired over €855m of European logistics assets in 34 deals across nine countries last year, we continue to see compelling opportunities in this sector.”

If you found our commercial real estate deals summary for 17 March interesting, see our previous European property deals round-up.

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