- The tenant, Kuehne + Nagel, will carry out logistics for the e-commerce sector from this facility.
- Following this new letting, the overall occupancy of the Company’s logistics portfolio now stands at 92%.
- With this signing, Axiare has mirrored the letting it carried out in the Valls property, which it also acquired with vacant possession and let to Kellogg’s Europe in the space of just a few months.
Madrid, 15 June 2016. Axiare Patrimonio signs a lease agreement with Kuehne + Nagel, one of the world’s leading logistics providers, present in more than 100 countries. From this location, Kuehne + Nagel will carry out logistics operations for the growing e-commerce sector in Spain.
Following this letting, the asset is now 100% let to a single, Grade A tenant, ensuring a long term cash flow and highly attractive yield. The new lease, covering 42,250 sqm of GLA, brings Axiare Patrimonio’s logistics portfolio to a 92% occupancy rate.
Axiare Patrimonio acquired the property fully vacant, in H2 2015. The property comprises two free-standing warehouses, with very high technical and functional specifications, allowing it to be let to a top-tier tenant.
Axiare Patrimonio was advised by the consultancy firm CBRE on the commercial side and Gómez-Acebo & Pombo advised on the legal aspects.
Axiare Patrimonio’s CEO, Luis López de Herrera-Oria, confirmed: “We have again demonstrated our ability to create value. We did it with Valls, letting a warehouse that we acquired vacant to Kellogg’s Europe and we have now done it again, with Kuehne + Nagel, another top class tenant.” He also added: “We continue to be positive about the letting outlook for this year. We have a well-balanced portfolio that is generating very attractive returns and we continue to build an exceptional portfolio”.
About Axiare Patrimonio:
Axiare Patrimonio is a Spanish company that has been listed on the Madrid Stock Exchange as a SOCIMI (Sociedad Anónima Cotizada de Inversión Inmobiliaria), since July 9, 2014. Its primary activity is the identification of investment opportunities in the Spanish real estate market and the creation of a prime property portfolio with strong potential value uplift that provides an attractive yield for its shareholders.
The Company’s value creation strategy is based on the active management of its portfolio, carried out by an expert team solely dedicated to this task – in order to maximise its quality, occupancy and value and transform the properties in to the leading schemes in their catchment area. Axiare Patrimonio’s investment activity is focused on the acquisition of Grade A office buildings – or that have the potential to be – in the CBD and the most sought after business districts in Madrid and Barcelona; logistics platforms on Spain’s main distribution highways and retail schemes in established areas of the country.
AXIARE Patrimonio is a member of EPRA (European Public Real Estate Association).
For more information please contact:
Axiare Patrimonio Press Office:
Tel: +34 91 576 52 50 / +34 637 88 34 68
Axiare Patrimonio Investor Relations:
Tel: +34 91 431 93 17