Epsicap Nano, the SCPI managed by Epsicap REIM and focused on small-cap assets, has acquired a logistics property in Granada for €9.3 million.
The asset is located in the Juncaril industrial area in Peligros and has a total area of 10,539 sqm.
The acquisition was completed through a sale and leaseback with Spanish logistics group Ontime, which sold the asset while remaining as tenant under a 12-year firm triple-net lease.
The transaction provides Epsicap Nano with long-term rental visibility, secured rental income and operational management fully assumed by the tenant, according to Epsicap REIM.
The property will also benefit from a €1.3 million investment programme, fully funded by the seller-tenant. The works will include upgrading the building to the highest level of fire safety standards and adapting the site to the requirements of Ontime's operations.
The acquisition forms part of Epsicap Nano's European diversification strategy. Its portfolio is now spread across seven countries: France, Spain, Portugal, Scotland, England, Poland and Italy. Assets outside France now account for more than half of the SCPI's portfolio.
Epsicap REIM was advised by Blue Hunter Capital as agent, CMS on legal matters and Arcadis for the technical audit.
