Swiss based wealth management firm, Spearvest, acting as Investment Advisor, has completed its first Logistics acquisition in Zaragoza, Spain
ZARAGOZA, Spain, March 12, 2020 /PRNewswire/ -- After its successful co-investment transaction near Lausanne, Switzerland (CHF 36m Mix-Use Building), wealth management firm Spearvest is building a diversified portfolio of high quality and modern logistics properties in Spain.
This new venture begins with the acquisition of a state-of-the-art cross docking platform in Zaragoza, bought for the Spearvest Spanish Logistics fund (SSL). The new fund targets core assets, it focuses on most liquid markets along the Mediterranean Corridors of Madrid, Barcelona, Valencia, Zaragoza and Seville.
The property is located in PlaZa, the prime logistics area in Zaragoza. Developed in 2018, the platform which comprises approximately 7,000sqm of high-quality cross docking space accessible distributing 58 loading docks is fully let to one of the leading Iberian logistics companies.
The fund, advised by Spearvest, currently executes two more acquisitions for more than 30,000 sqm of high-quality logistics schemes, completions are expected in the second quarter of 2020.
Benoit Pallard, partner and head of real estate at Spearvest, comments:
"Thanks to strong economic performance and accelerating adoption of e-commerce in Spain, rental growth in Spanish logistics is set to outperform most European real estate sectors.
"We were drawn to PlaZa in Zaragoza having identified solid fundamentals for logistics investments: strategic location with great freights connections through road, rail and air transports, high levels of demand for quality logistics space, coupled with extremely low vacancy rates.
"With a surface area of more than 13 million square metres, PlaZa is the largest logistics platform in Europe.
"As we just start building our portfolio, this prime logistics asset will provide a solid anchor to the portfolio."