New logistics operation in the Spanish real estate market. BentallGreenOak, one of the largest real estate funds in the world, has closed the sale of a logistics portfolio comprising five warehouses located in the first and second logistics areas of Barcelona and Bilbao. This transaction has been exclusively advised by CBRE.
These five properties have a total surface area of 60,000 square metres and occupancy rates of close to 90%. The assets are located in strategic locations in the metropolitan areas of Barcelona and Bilbao.
These are strategic assets for the different tenants in the portfolio, who have occupied the properties for an average of 12 years.
For CBRE's Head of Industrial and Logistics Investment, Carlos García, "despite the volatility in terms of rates and bonds in recent months, this is further evidence of institutional investor interest in the industrial and logistics segment, which continues to consolidate internationally in terms of rental performance and net absorption".
Javier López Galdos, Managing Director of BentallGreenOak in Spain, said: "This transaction is part of the usual renewal and rotation of assets in our portfolio, once consolidated with our active management. We remain committed to Spain and specifically to the logistics and industrial sector, where we continue to be very active in the search for investment opportunities and manage a large portfolio in Madrid, Barcelona and the Basque Country.
