Neinver acquires portfolio of logistics facilities
Spanish property developer and manager, Neinver announced the purchase of a new portfolio of logistics properties through a joint venture with Colony Logistics. The €87 million acquisition is part of joint venture to buy logistics properties, and adds 23 facilities in several parts of Spain to the companies’ portfolio.
The logistics and cross-docking centres, acquired from Zaphir Logistics Properties, amount to around 151,500 sq mts. They spread across 19 Spanish provinces, including Madrid and Barcelona.
“This purchase through our strategic alliance with Colony Capital makes us one of the largest investors and co-investors in Spain’s industrial and logistics market,” said Carlos González, Managing Director of NEINVER.
The company specialised in property development, investment, fund management and property asset management formed a joint venture with Colony Logistics in early 2015 with the goal of investing €200 million of capital.
Alain Chetrit, Colony Capital’s Managing Director for Spain said: “This investment reaffirms our confidence in Spain and its burgeoning logistics sector (as seen in the rise of cross-docking in Spain), and in our successful partnership with one of the leading players in the industry, the NEINVER Group”.
The transaction brings Neinver’s total portfolio to 37 industrial or logistics facilities totalling 261,500 sq mts in various parts of the Iberian Peninsula.
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