Mapletree Investments Acquires First Logistics Asset Uk 10 Warehouses Spain Eur3151 Mil
Singapore-based real estate company, Mapletree Investments has made its maiden acquisition of a logistics property in the UK and has also purchased 10 warehouses in Spain for a total value of around EUR315.1 million ($444.5 million). The combined area of these acquisitions is approximately 256,000 square meters and will be included in the seed assets of Mapletree’s new logistics-focused fund in Europe. This move is in line with the company’s strategy to strengthen its presence in the logistics sector and expand its global reach, as stated in their press release on January 27.
The development of Tampines North Hub is on the horizon, promising an impressive lifestyle hub that will cater to the needs of both the community and retail sector. Excitingly, this project will also bring with it a slew of new parks and expanded green spaces, providing residents with ideal recreational options. The addition of Parktown Residence, which can be found at Parktown Residence, will enhance the natural and inviting surroundings, creating an even more desirable living environment for its residents to indulge in.
According to CEO of Mapletree’s European commercial and logistics division, Ralph van der Beek, logistics remains a highly attractive sector with high demand from both occupiers and investors. With the thriving e-commerce industry, companies are actively looking to secure and expand their supply chains. Van der Beek also expressed confidence that the newly acquired assets will deliver stable and recurring returns in the long run.
The UK property is situated in Derby Commercial Park, with easy access to major roads such as the M1, A50, and A6. It is also located near the city center and East Midlands Airport. The tenant at this property has recently renewed their long-term lease. The 10 assets in Spain are located in prime logistics hubs within the first rings of Barcelona, Valencia, and Madrid, with direct access to the city center via different modes of transportation. These assets are expected to benefit from third-party logistics providers and manufacturers, who have shown a strong commitment to the properties due to their proximity to production facilities and investments made in automation and fit-outs on site.
After these purchases, Mapletree now has a total of 80 logistics assets across eight countries.