Mapletree Investments, a leading real estate development and investment firm, has made significant expansions in the logistics sector with its recent acquisitions in the UK and Spain.
The company has acquired its first logistics property in the UK and has also added 10 warehouses in Spain to its portfolio, for a combined amount of EUR 315.1 million (approximately $444.5 million). These assets, spanning over 256,000 sqm, will form part of the seed assets of Mapletree’s second European logistics-focused fund.
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This move is in line with Mapletree’s strategy to intensify its focus in the logistics sector and strengthen its global presence. The fund is expected to be launched at a suitable time, after achieving a substantial scale.
“The logistics sector continues to be highly attractive, with both occupier and investor demand being strong and consistent. The growing popularity of e-commerce has bolstered the efforts of companies to secure and expand their supply chains,” says Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm.
“We are excited to add these assets to our portfolio and look forward to their contribution to our long-term returns,” he adds.
The UK property, located in Derby Commercial Park, has easy access to major arterial roads such as the M1, A50, and A6. It is also situated close to the city center and the East Midlands Airport. The tenant at this property recently renewed its long-term lease.
In Spain, Mapletree has acquired assets in Barcelona, Valencia, and Madrid, covering the first rings of these cities. These assets are located in core logistics hubs and have excellent connectivity to the city center via various modes of transportation. Third-party logistics providers and manufacturers, with a focus on automation and on-site upgrades, are committed to these properties owing to their proximity to production facilities.
With the addition of these assets, Mapletree now owns 80 logistics properties in eight countries.
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