Pictet Alternative Advisors and FREO Acquire Grade A Last-Mile Logistics Asset in Madrid

Madrid, January 12, 2026 — Pictet Alternative Advisors (PAA), the alternative investment arm of the Pictet Group, together with its real estate partner FREO, has acquired “Project Wise”, a prime Grade A last-mile logistics asset located in Leganés, within Madrid’s first ring road.

The property comprises 16,314 sq m and represents a strategic addition to the partners’ logistics portfolio in Spain. Situated just 17 minutes from Madrid city centre, the asset benefits from exceptional connectivity, with direct access to the M-50 and M-45 ring roads and the A-42 motorway, placing it in one of the most sought-after industrial hubs in the Madrid region.

Originally built in 1989, the building underwent a comprehensive refurbishment in 2023 and now meets the highest institutional technical standards. Key specifications include a 10-metre clear height, 17 loading docks, 32-metre truck courts, and a floor load capacity of seven tonnes per sq m, making it ideally suited for modern last-mile logistics operations.

In line with the partners’ strong commitment to environmental, social and governance (ESG) principles, Project Wise holds a BREEAM “Excellent” certification for non-residential building refurbishments, as well as an EPC A energy rating, the highest level of energy efficiency. The property also features a 55 kW rooftop solar photovoltaic installationfor on-site consumption and four electric vehicle charging points, enhancing its long-term sustainability and resilience.

The asset is fully let to Fundación Humana (Pueblo Para Pueblo), a non-profit organisation focused on textile reuse and international development, providing stable income backed by a socially responsible tenant.

Pablo Granell, Head of European Acquisitions at Pictet Alternative Advisors, commented:
“We are delighted to add this asset to our pan-European core-plus portfolio, which combines quality and resilience and provides a diversified, inflation-protected income stream for our investors. Looking ahead, we remain committed to growing the portfolio in a disciplined manner through strategic acquisitions aligned with our long-term value creation and distribution objectives.”

Ignacio Pareja, Managing Director of FREO Group, added:
“The acquisition of Project Wise clearly illustrates our strategy of identifying and acquiring high-quality assets driven by strong sustainability credentials in prime locations. This last-mile facility in Leganés, with excellent technical specifications and a solid tenant, perfectly complements our growing logistics footprint in the Spanish market.”

About the Pictet Group
Founded in 1805 and headquartered in Geneva, the Pictet Group is a partner-owned firm specialising exclusively in wealth management, asset management and alternative investment solutions. As of September 2025, the Group managed or held in custody €788 billion and employed around 5,500 people across 31 offices worldwide.

About Pictet Alternative Advisors
Pictet Alternative Advisors manages direct and indirect investments in hedge funds, private equity and real estate for private and institutional clients of the Pictet Group. As of September 2025, it managed $52 billion in assets, supported by a team of nearly 200 alternative investment specialists.

About FREO Group
Founded in 1996, FREO is an international real estate investment, development and asset management group with approximately €2 billion in assets under management. Active across key European markets, FREO has operated in Spain since 2015, with offices in Madrid and Barcelona, and has invested around €1.2 billion in the country to date.