- Phase two comprises two logistics warehouses with a combined area of 60,000 sqm, to be built alongside phase one. The LEED-certified logistics complex will feature the latest state-of-the-art and most efficient technical specifications in the sector. Axiare has invested a total of EUR 81 million across the two phases of the project.
- The property is strategically located in Madrid’s first ring, in San Fernando de Henares, an area highly sought-after area by major international companies such as Amazon, TNT and XPO, thanks to its proximity to the city centre and the airport.
- This off-market deal brings Axiare Patrimonio’s year-to-date investments up to EUR 195 million. The Company continues to demonstrate its ability to carry out excellent acquisitions in prime assets, maintaining attractive yields that are among the highest in the market.
Madrid, 30 June 2017. Axiare Patrimonio continues to invest the funds raised from the latest share capital increase, acquiring one of the properties in its investment pipeline: the second phase of its logistics park in San Fernando De Henares. The acquisition comes shortly after having pre-let 60% of the first phase, which the company acquired just a year ago.
The acquisition is linked to a pre-agreement option signed in 2016 when the Company acquired phase one of the project, and reserved the right to develop a second phase.
Axiare Patrimonio’s CEO, Luis López de Herrera-Oria, confirmed “this deal once again demonstrates our capacity to operate off-market, acquiring assets with excellent value uplift potential via complex transactions. We remain deeply committed to our business plan, designed to maximise value for our shareholders”.
The Socimi has invested EUR 38 million in acquiring phase two. This latest investment will add two logistics warehouses with a gross lettable area of 60,000 sqm to the three already in the pipeline for phase one, all located within the same logistics complex. Phase two is scheduled for delivery under a turn-key arrangement by H2 2018.
Axiare Patrimonio will make a total investment of EUR 81 million across the two phases of the development, which total over 133,000 sqm. The logistics project is located in the prime area of the Corredor de Henares, in Madrid’s Tier 1. This is one of the country’s key logistics hubs, situated just 10 km from the airport and 18 km from the city centre. Leading tenants, such as Amazon, TNT and XPO, have their logistics centres in close proximity to the complex.
The technical specifications of the new warehouses will be identical to those in the phase one, featuring exceptional qualities and the very highest LEED environmental certification.
With this off-market deal, and in line with its investment strategy, Axiare Patrimonio has increased its year-to-date investment to EUR 195 million across five properties. The Company continues to demonstrate its ability to make sound investments in prime assets, and remains highly selective in its acquisitions, resulting in some of the highest yields on the market today.
The project will be developed by the specialist logistics company, Grupo Barral.