International Industrial Properties (IIProp), a growing logistics platform focused on investing in industrial and logistics assets in key European markets, owned by Madison International Realty and Griffin Capital Partners, has successfully closed yet another transaction. HANSAINVEST Real Assets, an asset- and investment manager has purchased from IIProp a built-to-suit (BTS) logistics property in Murcia, Spain.
IIProp’s sold a BTS asset with a total GLA of 46,600 sqm to HANSAINVEST Real Assets, a Pan-European asset and investment manager. The asset offers outstanding connectivity and prominence, situated adjacent to the A7 highway, an integral component of the Mediterranean transit corridor connecting Spanish and Portuguese ports with continental Europe. This transaction proves that the Spanish warehouse market, owing to its well-developed infrastructure and still relatively low vacancy rates, remains very attractive to investors.
Maciej Dyjas, Co-owner and Managing Partner at Griffin Capital Partners, says: “It is great that HANSAINVEST Real Assets has a lot of confidence in us. This transaction demonstrates that tailor-made logistic facilities are desirable assets, and interest in this market segment remains strong. IIProp's core business is to deliver high-end logistics assets, and we intend to continue strengthening our presence in key European markets.”
Nebil Șenman, Co-owner and Managing Partner at Griffin Capital Partners, adds: “This transaction is an example of excellent cooperation, where each party shares the same goal - to create a win-win situation. Congratulations to our team and partners, who once again have proven themselves as champions in their field. At IIProp, we remain active in the European markets, and I am confident our team will succeed again.”
The BTS facility in Murcia is fully let under a long-term agreement to a logistics company.
Maximilian Sauermann, Vice President, Investments at Madison International Realty, comments: “The sale of the Spanish property is the latest example of the effectiveness of Madison’s partnership with Griffin Capital Partners and our shared business strategy for IIProp -- to generate performance while delivering high-quality logistics assets. All parties involved should be extremely proud and pleased with this strategic transaction which we believe reflects the strength of the European market and the attractive infrastructure opportunities it presents.”
The facility has obtained a "Very Good" BREEAM certification, which will be supported by environmentally friendly features such as solar panels, electric vehicle charging stations, electric bike and scooter outlets, dedicated bicycle parking, and a bee sanctuary.