NEINVER and Colony Logistics expand their portfolio of logistics assets by acquiring 151,500 m2 from Zaphir Logistics Properties

Madrid. 5 February 2016. NEINVER, a Spanish company specialised in property development, investment, fund management and property asset management, and Colony Logistics, owned by investment vehicles that are managed by affiliates of Colony Capital, Inc., a global real estate and investment management firm, have purchased a new portfolio of logistics properties through a joint venture between the two companies. Its portfolio is thus adding 23 logistics and cross-docking facilities in various parts of Spain, totalling around 151,500 m2.

 


The two companies formed a joint venture in early 2015 to buy logistics properties, with the goal of investing €200 million of capital


Acquired from Zaphir Logistics Properties for €87 million, the facilities are spread across 19 Spanish provinces. Half the properties are in Madrid or Barcelona. Banco Santander and Crédit Agricole financed the purchase.

 

Colony Logistics and NEINVER formed a joint venture in early 2015 to acquire logistics assets, with the goal of investing €200 million of capital. This purchase brings the total portfolio to 37 industrial or logistics facilities totalling 261,500 m2, located in various parts of the Iberian Peninsula. The transaction also positions their strategic partnership as one of the peninsula’s largest investors in the logistics sector.

 

“This purchase through our strategic alliance with Colony Capital makes us one of the largest investors and coinvestors in Spain’s industrial and logistics market,” says Carlos González, Managing Director of NEINVER, who adds that “this acquisition, along with the recent transaction involving El Cañaveral in Madrid, reflects NEINVER’s commitment to reviving the logistics sector, which is a major part of our company’s roots and is currently one of the most promising segments of the property market”.

 

According to Alain Chetrit, Colony Capital’s Managing Director for Spain: “This investment reaffirms our confidence in Spain and its burgeoning logistics sector (as seen in the rise of cross-docking in Spain), and in our successful partnership with one of the leading players in the industry, the NEINVER Group”.

NEINVER, with more than 45 years’ experience in the logistics and industrial sector, manages the assets acquired through this partnership. The company currently manages some 350,000 m2 of industrial space and has another 200,000 m2 for new development in the Vicálvaro and El Cañaveral districts of Madrid. To date, NEINVER has developed more than 1.5 million square metres of industrial property, with a strong specialisation in turnkey projects.