AXA IM Alternatives, a global leader in alternative investments with 188 billion euros of assets under management, announces the completion of the acquisition of a sizable and newly developed last-mile logistics asset in Barcelona, Spain. This deal was sourced from Acciona, a global leader in providing sustainable solutions for a decarbonized economy, who acted as developer for the project and pre-let the facility to a leading global e-commerce operator on a long-term lease.
The asset has 58,000 meters squared dedicated to last-mile logistics, distributed between 13,350 meters squared of high quality warehouse space alongside 44,540 sqm of parking and capacity to accommodate 600 delivery vans. The asset will have the best in practice distribution system supporting long-term value.
Located in the second most populated city in Spain, Barcelona where the asset benefits from a strategic logistics location with excellent transport connections to highways and ports. Additionally, the asset is bordering one of the main residential districts in Barcelona creating a the perfect environment for a last-mile logistics network to support the growing demand for shorter delivery time frames.
Due to the unique nature of this property there is scarcity of similar development lands with such characteristics, this acquisition presents a significant opportunity to increase AXA IM Alt´s exposure to high quality last-mile logistics in Spain. This acquisitions adds to the 158 European logistics assets located across key distribution hubs in 11 countries. At the time of this acquisition AXA IM Alt brings its European logistics assets under management to over €5 billion, spread across c.5.5 million sqm of high-quality primarily big box or last-mile urban logistics space.