More P3 in Spain
Logistics real estate developer P3 Logistic Parks has invested in the Mediterranean corridor and acquired a Spanish logistics portfolio from a joint venture between KKR, Round Hill Capital and Pulsar Properties, for an amount of EUR 108 million.
The estate includes around 112,000 sqm of large-area logistics space, spread over five development projects, in the Greater Madrid region (82% of the rental area) and Barcelona (18% of the rental area). The portfolio is fully leased.
With this acquisition, P3 brings its gross leasable area in Spain to a total of around 676,000 sqm. The logistics assets are located in Torija (Guadalajara), Fontanar (Guadalajara), Ontigola (Toledo) and Parets del Vallés (Barcelona). The two largest assets are in Torija, northeast of Madrid, and cover more than 50,000 sqm. (sh)