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Blackstone and Prologis are interested in Colonial’s logistic assets
02 May 2019 | Vanessa Sousa

There are several companies interested in the logistic portfolio Colonial placed on the market last March. Blackstone, Prologis, REIT P3, fund KKR and CBRE Global Investors are some of the companies that showed interest in acquiring the 12 industrial assets that constitute this portfolio.

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The first stage of the negotiations will take place in mid-May, according to Spanish newspaper Eje Prime. If, during this stage, the Spanish REIT reaches a deal with one of the companies, it might sell the portfolio for more than 350 million euro, which would represent an added value of 15%. This operation will be carried out by consultants JLL and Knight Frank.

These assets – which were inherited from Colonial after it finished acquiring Axiare in 2018 – are spread across several Spanish cities, such as Madrid, Guadalajara, Tarragona and Seville. And, according to the same newspaper, they have a total combined area of 460.000 sqm.

One of them is a logistic complex located in the municipality of San Fernando (Madrid), and it has 131.000 sqm.