SEGRO plans €1 billion investment into Spanish logistics & industrial property

SEGRO, a UK Real Estate Investment Trust (REIT), plans to increase its investment in Spain to a billion euros over the next 3 years. It currently owns a portfolio valued at more than €400 million euros and c. 440,000 m² of GLA.

During Q1 of 2020, SEGRO has added 4 new logistics assets with a combined 92,000 m² of GLA to its portfolio (one of which was on a turnkey basis) in the first crowns of Madrid and Barcelona.

One its latest acquisitions is located in Getafe (Polígono Industrial los Gavilanes), 14 km from the Spanish capital and with direct access to the M50 highway. In Barcelona, ​​a 16,000 m² project is being developed for an e-commerce company and it will be known as SEGRO Logistics Park Rubí.

The fund is a specialized manager and developer of modern warehouses and light industrial property and, on a global level, it owns & manages 7.8 million square metres of space valued at £11.7 billion. Its properties are located in and around major cities and at key transportation hubs in the UK and in eight other European countries.

Regarding the closing results of the first quarter of 2020 and forecasts for 2020-2021, David Alcázar, CEO of SEGRO Spain, has stated:

“We want to grow by focusing on the quality of assets and prioritizing strategic locations to create a portfolio of properties for urban distribution and privileged logistics. Thus, we are focused on generating spaces with high added value for both SMEs and large companies ”.

“The global coronavirus outbreak (COVID-19) is causing a difficult and uncertain situation. Our objective is to adapt to the needs of our clients and to support the communities in which we are present, in which we have already undertaken support actions. in various areas, such as donations to NGOs aimed at providing food, masks, or supporting different municipalities for the disinfection of nursing homes. Thanks to all the team and collaborators who have made it possible and to all the professionals who have provided support and maintain essential services for the benefit of all of us ”.

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