Garrigues has counselled Aberdeen Standard Investments (ASI) on its acquisition of the urban logistics unit from Segro European Logistics Partnership (SELP), which was advised by KPMG Abogados
Aberdeen Standard Investments is increasing its investment in the urban logistics sector with the purchase on behalf of its investors from Segro European Logistics Partnership of a last-mile logistics unit in Barcelona for approximately €19 million.
Leased in its entirety to Mediapost (a subsidiary of La Poste Group, a French state-owned company), the asset was developed in 2019 under a build-to-suit model for the tenant. The platform comprises 13,900 m² of warehousing and office space. It is located on the AP-7 motorway, which runs along the Mediterranean coast of Spain, connecting this asset with France and the rest of the European markets.
“After several acquisitions of warehouses in major logistics hubs in Spain in recent years, this is our first acquisition in this sector in Barcelona. The warehouse, which was built to modern technical specifications, is situated in an excellent location that allows easy connection to France and the rest of Europe,” commented Pilar Valencia, head of asset management and transactions in Spain and Portugal for the company.
David Alcázar, CEO of Segro España, said: “This transaction was a good opportunity to take advantage of a bullish investment market and sell an asset that we acquired as part of an expansion of our real estate portfolio in 2020. We continue to focus on our line of business, developing higher quality logistics and urban distribution platforms in prime locations in Madrid and Barcelona.”
The transaction was advised by Garrigues, Dokei, Rambol and Savills Aguirre Newman on behalf of Aberdeen Standard Investments and Knight Frank and KMPG Abogados on behalf of Segro European Logistics Partnership (SELP).
KPMG Abogados RE team advising Segro was led by partner Carlos Bardavío (pictured centre), and also counted on senior manager María Llorens (pictured top right) and associate Elvira Puerta (pictured bottom right).
On the other hand, Garrigues team, counselling Aberdeen, was made up of partner Héctor Muñoz (pictured top left) and senior associate Blanca Jiménez Aparicio (pictured bottom left).