Boreal IM and Cadillac Fairview’s European logistics investment joint venture has added a €45 million asset in Spain’s capital to its portfolio.
The joint, created last year, has acquired a 54,500 square metres warehouse currently under development in Alcalá de Henares, Madrid from Pavasal. Construction of the warehouse is expected to complete by the end of 2024.
The deal represents the partnership’s third acquisition in Spain, a country the venture expanded into in January this year. Previous deals in Spain were made in Bilbao and Barcelona.
The acquisition also lifts the partnership’s Spanish portfolio to 100,000 square metres.
Nikos Koulouras, partner at Boreal IM, said: “The Henares Corridor is a fantastic location and its appeal to both occupiers and investors is illustrated by its high leasing and transaction volume.
Source: realassets.ipe.com on the 20th of June 2023
https://realassets.ipe.com/news/cadillac-fairview-and-boreal-logistics-partnership-expands-spanish-portfolio/10067288.article