EY Abogados advises Dea Capital on logistics project investment

EY Abogados has advised Dea Capital Real Estate, the investment company of the Italian De Agostini family, on the acquisition of a plot of land for logistics use located in the area known as Atalayuela (Madrid)

The purchase has been made through its joint investment vehicle in Spain, to develop a logistics warehouse of more than 19,000 square metres. The logistics complex will be acquired on a turnkey basis by Aberdeen Standard Investments.

DeA Capital Real Estate Iberia has sold a 19,000 square metre turnkey logistics project to Aberdeen Standard Investments. The asset is located in the first crown and will provide last-mile service. The value of the transaction has not been disclosed.

Once the construction of the asset, which will be carried out by Norton, has been completed, it will be transferred to Aberdeen Standard (Abrdn). The new logistics property will have some 19,000 square metres of leasable area and can be leased to a maximum of four tenants.

The logistics warehouse is located in Vallecas and therefore within Madrid’s first ring road, in the southeast of the city, with excellent connections to the M-40 and the A-3 and A-4 motorways. The project will be supervised by Dokei for Abrdn and by APM for DeA Capital.

Aberdeen Investment is one of Europe’s largest real estate investors, with £38.6 billion of assets under management in the UK and other European countries and Asia. It has a team of over 240 professionals managing more than 1,600 assets worldwide.

The EY Abogados Legal team involved in this transaction was led by Real Estate partner Iván Azinovic Gamo (pictured top left) together with Urban Planning and Environment partner Ana López Muiña (pictured top right) and the members of their respective teams Real Estate senior manager Natalia Tova Cobo (pictured bottom left), and Urban Planning manager Susana Orgillés Mañas (pictured bottom right).