Mapletree Investments Acquires First Logistics Asset Uk 10 Warehouses Spain Eur3151 Mil
Mapletree Investments has announced its recent acquisition of a logistics property in the UK and 10 warehouses in Spain for an estimated total value of EUR315.1 million ($444.5 million).
These new investments, which consist of a total of 256,000 sqm, will serve as the seed assets for the company’s second European logistics-focused fund. This move also reflects Mapletree’s strategy of deepening its focus in the logistics sector and expanding its presence globally, according to a Jan 27 press release.
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The new fund is expected to be launched at an appropriate time after achieving sufficient scale.
“Logistics remains a highly attractive sector that has consistently enjoyed strong demand from both occupiers and investors,” says Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm. He adds that the thriving e-commerce industry and the efforts of companies to secure and expand their supply chains make the sector especially appealing.
Van der Beek states that the company looks forward to these assets delivering stable and recurring returns in the long run.
The newly acquired UK property is located in Derby Commercial Park, with convenient access to major roads such as the M1, A50, and A6. It is also close to the city centre and the East Midlands Airport. According to Mapletree, the tenant at this property recently renewed their long-term lease.
The 10 warehouses in Spain are situated in core logistics hubs in the first rings of Barcelona, Valencia, and Madrid. They offer immediate access to the city centre through various transportation modes. These assets are expected to benefit from the presence of third-party logistics providers and manufacturers who are highly committed to the properties because of their proximity to production facilities and investments in automation and fit-outs on-site.
With these new acquisitions, Mapletree’s logistics portfolio now comprises 80 assets in eight countries.