Azora strengthens European logistic presence with €91m asset portfolio acquisition

Azora, through two logistics vehicles it manages, has acquired an asset portfolio valued at €91 million ($99 million) previously managed by CBRE Investment Management.

The portfolio consists of 11 assets totaling 193,000 square meters, financed by a loan of up to €54.9 million ($55.9 million). These assets are located on the A2, the main logistics axis in the Spanish market. The assets are leased to a mix of international and national logistics operators, including ID Logistic, Siemens, TD Synnex, Grupo Carreras, Factor 5 and Truck&Wheel.

The planned strategy for the portfolio involves carrying out a significant investment plan that seeks to modernize the facilities, improve the workspace and implement measures aimed at increasing energy efficiency and other sustainability elements.

The transaction was carried out through the co-investment of MilePro Logística Última Milla SOCIMI, S.A. and Ashington S.A., a new SOCIMI company created for the tr