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Transactions - OCTOBER 16, 2020

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Mileway acquires Spanish logistics portfolio

by Andrea Zander

Mileway has acquired the Gallastegui Project, four cross-dock logistics assets in Spain with a total of 13,000 square meters (140,000 square feet).

The seller was Transportes Gallastegui, and the financial terms were not disclosed.

All the assets are located in privileged last-mile locations in the main logistics centers of Spain: Madrid (Pinto), Barcelona (Sant Vicenç dels Horts), Valencia (Ribarroja) and the Basque Country (Elgoibar).

Miguel Guillermo, director of MidCaps Spain at CBRE and leader of the project, said, “Mileway’s strong growth in Europe shows that last-mile assets are in great demand. They often allow easy conversion into ecommerce transactions and offer tremendously attractive performance.”

Mileway was launched by Blackstone in 2019.

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