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.