M&G Real Estate has acquired the Ontígola Logistics Platform in Madrid's south corridor for €40.6 million ($49.7 million), bringing total exposure to Spain to approximately €1 billion ($1.2 billion). The acquisition has been agreed on behalf of the €4.4 billion ($5.4 billion) M&G European Property Fund, managed by David Jackson and Simon Ellis.
The newly built Ontígola Logistics Platform comprises two large-scale warehouses totaling 48,700 square meters (524,200 square feet). The first warehouse will be used for Iskaypet's ecommerce operation and the second for servicing the company's network of retail outlets in Spain and Portugal.
Located in the Dehesa de la Plata II industrial park at a strategic cross-section of road networks, it is well placed for easy distribution within Iberia, connecting Madrid to major cities, ports and airports in Spain and Portugal. Other occupants of the industrial park include large-scale logistics companies such as DHL and
