Barings has acquired a retail warehouse in Madrid in an off-market deal. Financial terms were not disclosed.
The recently developed retail warehouse comprises 10,300 square meters (110,868 square feet) and is fully let to Conforama, one of Europe’s largest retailers of furniture and household goods.
Situated in Majadahonda, northwest of Madrid, the property can be accessed via the M50 ring road and is adjacent to Gran Plaza 2, the largest regional shopping center northwest of Madrid, according to Barings.
“This transaction presents an opportunity to acquire a prime retail warehouse in a strong location with high footfall and growth potential over the coming years,” said Adolfo Favieres, managing director, real estate country head Spain at Barings. “These attributes mean this investment is perfectly aligned to our core strategy, as we continue to grow our presence in Spain across a variety of asset classes, focusing predominantly on logistics and offices.
