Law firm trio advises on €15m RE deal in Barcelona

Dentons and Mazars have advised the buyer, Scannell Properties, on its acquisition of a 41,500 sqm. site in Barcelona with Pérez-Llorca advising the financing entity (Global Realty Capital)

Scannell Properties, the privately-owned real estate development and investment company specialising in large-scale industrial and logistics projects, has announced the acquisition of a 41,500 square metre land site at Santa Perpetua de Mogoda, one of Barcelona’s best-located industrial parks. The company plans to build a 21,000 square metre logistics facility as it commences its speculative development programme in Spain.

Located to the North East of Barcelona, the site benefits from close proximity to the C-33 and AP7 transport routes; providing links to the City of Barcelona in under 15 minutes and onward access to Madrid and France. The Port of Barcelona is also within 25 minutes drive.

With one delivery door per 900 m², the development will be designed for high flow logistics distribution and e-commerce companies seeking last generation class A, warehousing. The project boasts strong environmental credentials, including a target ‘Breeam Very Good’ certification. It will also feature a full ESG (Environmental, Social and Governance) model to not only improve the local environment but to enhance the wellbeing of all employees working there.

Construction is planned to start in the third quarter of 2021 with a target completion date of the second quarter, 2022.

Amaury Gariel, managing director of Scannell Properties in Europe, added: “We are proud to announce this acquisition which underlines our commitment to the Spanish market. As with many logistical hubs across Europe, scarcity of land in Barcelona means opportunities such as this are rare. We are pleased to have secured this site and to offer clients an exciting opportunity to obtain space in the region.”

Scannell Properties was assisted by Dentons and Mazars, with Global Realty Capital providing the financing for the project. Invertica and CBRE advised the vendor on the land sale and will be appointed as marketing agents. Pérez-Llorca advised Global Realty on the Legal matters.

Dentons´ team was led by counsel Itxaso López (pictured left) and associate Miquel de Espona. Pérez-Llorca advised Global Realty with a Banking & Finance team formed by partner Ildefonso Arenas (pictured right) and lawyer Nicolás Cuchet.

Desire Vidal