The investment and development group Oxford has closed its first investments in the Spanish market with the acquisition of seven logistics assets totalling nearly 90,000 square metres. The price of the transactions has not been disclosed, nor has the seller.
The Canadian group has carried out the operations through M7 Real Estate, its pan-European real estate investment and asset management company. The transactions were completed during the second and third quarters of this year and relate to properties located in Barcelona, Tarragona and Bilbao.
More specifically, the investment includes a portfolio of five logistics assets totalling 60,000 square metres in Barcelona and Bilbao, some twenty kilometres from the centre of both cities. Four warehouses are leased under long-term contracts and the other will be fully refurbished to reposition it in the market.
Another of the acquisitions corresponds to the Kellogg's plant in Valls (Tarragona), from where it distributes its cereals to a large part of the European markets. The asset has a surface area of 26,000 square metres.
Finally, Oxford has acquired a last-mile warehouse in Santa Perpètua de Mogoda (Barcelona), which was in the hands of a private investor. The property, with a surface area of 3,100 square metres, is leased.
"All the assets benefit from unrestricted annual CPI increases, which is a safeguard in the current inflationary environment," says David Ebbrell, CEO of M7 Real Estate.
Oxford has invested more than €1.8bn through M7 Real Estate since acquiring the company in September 2021 to build a large-scale European logistics platform. "These acquisitions confirm the Canadian company's commitment to increase its exposure to last-mile logistics assets in Europe in key distribution locations," Oxford said.
