Bain Capital and Conren Tramway (CT), a Spanish real estate investment and development firm, have launched a joint venture to co-invest more than €600 million ($657 million) into the acquisition and development of logistics in Spain and Portugal over the next five years.
In Spain, the joint venture will target consolidated and growing logistics hubs nationwide including Madrid, Catalonia, Valencia and southern Spain. In Portugal, the focus will be on the hubs in Lisbon and Porto.
The joint venture will focus on delivering grade A logistics to suit the whole range of operator demand, including big box, cross-docking, cold storage and last mile. Additionally, the partnership is focused on delivering assets that meet the highest ESG standards, including, where appropriate, photovoltaic panels; EV chargers; sustainable construction materials; and innovative façades, roofing and pavements.
The joint venture’s first acquisition is a plot in Loriguilla (Valencia)
