The portfolio consists of 5 assets located in Guadalajara, Toledo, and Barcelona, specifically in Torija, Fontanar, Ontigola and Parets del Vallés.
2021 is set to be a year marked by high-value operations in key areas such as the Mediterranean Corridor and the Central Corridor.
The purchase operation took place on 30 September, with the acquisition of 5 assets located in Torija (Guadalajara), Fontanar (Guadalajara), Ontigola (Toledo) and Parets del Vallés (Barcelona), reinforcing the company’s presence in the central and Mediterranean corridor, two key areas for the national logistics exercise and development.
Thus, P3 Logistic Parks will increase its Gross Lettable Area in Spain by more than 100,000 m2, with the largest surface area in the portfolio being the two assets in Torija, with more than 50,000 m2.
In the words of Javier Mérida, Managing Director of P3 Logistic Parks España: «As we said, 2021 is a year full of opportunities thanks to the importance that logistics is having in the recovery of the Spanish and European economy. Therefore, opportunities such as the acquisition of this portfolio are fundamental for us, not only to maintain our high standards of quality and service, but also to be able to continue working on offering the best opportunities in key areas such as the central and Mediterranean corridor».
Similarly, Mérida concluded on the signing of the deal: «This acquisition could not have been completed without the support of Herbert Smith Freehills as legal advisor, Arcadis as technical advisor, PWC as tax and financial advisor and CBRE and Knight Frank as agents.»
The company’s national growth has resulted in major opportunities this year, in addition to the acquisition of this portfolio of assets. P3 Logistic Parks has other projects underway, such as the one in Castellón, a key area within the Mediterranean Corridor, with a land area of close to 200,000m², of which 77,000m² will be the warehouse. This project began in the third quarter of 2020, with delivery scheduled for the first quarter of 2022.
In addition, P3 Logistic Parks acquired 80,000m² of land in Illescas, where it will be able to develop a fourth phase in this emblematic park. It will be able to propose up to 55,000m² of built-to-suit project, which will have the highest quality standards, in line with the needs of potential interested clients.