KWM advises on the acquisition of an industrial building in León for more than 18m euros.

King & Wood Mallesons (KWM) real estate law team has advised the french socimi Iroko Zen on the acquisition of an industrial warehouse in León, previously owned by Abrdn European Logistics Income PLC. The transaction amounts to 18.5 million euros.

The KWM team of lawyers involved in this project has been led by real estate law partner José Antonio Calleja. He is also head of King & Wood Mallesons’ Real Estate team in Spain.

Located in the Villadangos industrial estate in León (Spain), the 32,645 m² warehouse is currently leased to Decathlon.

Formerly owned by Abrdn European Logisitcs Income (ASLI), it has been sold at 3% more than it was valued at in December 2022. ASLI paid 15.3 million in 2018 for the asset, said the disposal price reflects a crystalised 20% gross profit.

Julia Gil