Mapletree Investments Acquires First Logistics Asset Uk 10 Warehouses Spain Eur3151 Mil
Mapletree Investments, a Singapore-based real estate development and investment company, has made its first foray into the logistics property market in the UK. The company has also acquired 10 warehouses in Spain for a total value of EUR315.1 million ($444.5 million). This move is in line with Mapletree’s strategy to strengthen its focus on the logistics sector and expand its global presence. The acquisitions, which have a combined built-up area of 256,000 sqm, will be included in the group’s second European logistics fund. The fund will be launched at an appropriate time, after achieving the desired scale.
In a press release issued on January 27, Mapletree explains that it sees great potential in the logistics sector, which has consistently garnered strong demand from both tenants and investors. The rise of e-commerce has further boosted this sector, with companies increasingly looking to secure and expand their supply chains.
According to Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm, the company is excited to add these assets to its portfolio. He believes they will provide stable and recurring returns in the long run.
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The logistics property in the UK is located in Derby Commercial Park, with easy access to major roads including the M1, A50, and A6. It is also close to the city center and the East Midlands Airport. Mapletree notes that the tenant at this property has recently renewed their long-term lease.
In Spain, the 10 warehouses are located in the first rings of Barcelona, Valencia, and Madrid. They are situated in core logistics hubs with excellent access to the city center via various transportation modes. These assets are expected to benefit from the presence of third-party logistics providers and manufacturers, who are highly committed to their properties due to their proximity to production facilities. These tenants have made significant investments in automation and fit-outs on site.
With these latest acquisitions, Mapletree now has a total of 80 logistics assets in eight countries.