The British Socimi Segro has closed an operation that includes the acquisition of eight logistics assets in the prime areas of Madrid and Barcelona. This operation has been carried out through the company SEPL de Segro with the Canadian pension fund PSP and represents an injection into its portfolio in the Iberian Peninsula of more than 240,000 square meters of buildable area. These assets will be oriented, mainly, to urban distribution “to satisfy the current demand of the occupants due to the rapid increase in e-commerce,” pointed out the Socimi.
Currently, Segro has a portfolio of logistics properties on the Peninsula with a total of 440,000 square meters for a value of more than 450 million euros. “These new assets located in Barcelona and Madrid will have a building that will be developed over the next five years to offer modern and sustainable storage,” explained the company. The acquisitions are distributed between San Fernando de Henares, Villaverde, and Paracuellos in Madrid. In the case of Barcelona, they are located in a 14,000 square meter warehouse in Polinyà, in Palau-Solità i Plegamans, Cerdanyola del Vallès, Viladecans and Terrassa.
The Socimi has a portfolio of properties on the Peninsula valued at 450 million euros
The director of Segro’s Southern Europe Business Unit, Marco Simonetti, explained that “this acquisition will significantly expand our presence in Spain, an exciting market in which we are expanding our portfolio of high-quality, well-located assets to satisfy the growing demand for premium quality sustainable storage ”. Likewise, he stressed that “it will complement our existing portfolio in Barcelona and Madrid, and will contribute to positioning ourselves in modern storage and industrial property in these important logistics markets.”
Furthermore, according to the general director of Segro in Spain, David Alcazar, “these acquisitions respond to the first phase of expansion, in the Spanish market, with a total planned investment of one billion euros in the first crown in Madrid and Barcelona.” Looking ahead to the next few years, the company aims to “continue to grow and position itself as one of the main investors in the logistics, industrial and urban distribution real estate market”.