Dea Capital grows in logistics in Spain
The subsidiary RE Iberia will build a new platform with Abrdn in Madrid
DeA Capital Real Estate Iberia has signed an agreement with Abrdn (formerly Aberdeen Standard Investment) for the development of a new logistics hub in Madrid: a last mile location on a plot of over 27,000 square meters located within the first ring of Madrid, in the south-east of the city, with excellent connections to both the M-40 of Madrid and the A3 and A4 motorways.
The operation, which was completed through the establishment of a vehicle dedicated to the logistics sector, was structured with an important international investor in the insurance sector. The building will be built by Norton, and the project will be followed by Dokei for abrdn and APM for DeA Capital Real Estate Iberia.
The new logistics platform to be developed will have approx. 19,000 square meters of leasable area and will be able to accommodate up to 4 tenants, thus creating a very flexible asset, suitable for current market needs and sustainable, thanks to the fact that it will have the BREEAM Excellent certification.
With this new transaction, DeA Capital Real Estate Iberia confirms its commitment in the logistics sector and in particular in the last mile segment, continuing with the strategy of its logistics fund with which it expects to invest approximately 150 million euros. DeA Capital Real Estate Iberia has already acquired land in Villaverde last March to develop a logistics platform within the same vehicle.
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