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PATRIZIA makes sixth Spanish acquisition on behalf of TransEuropean VII fund
Transactions - NOVEMBER 19, 2019

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PATRIZIA makes sixth Spanish acquisition on behalf of TransEuropean VII fund

by Released

PATRIZIA has completed its sixth acquisition in Spain on behalf of TransEuropean VII (TEP VII), its flagship, Europe-wide discretionary value-add program.

Located within the Los Gavilanes industrial estate in Getafe, Madrid, the property is being developed speculatively and will provide approximately 29,000 square meters (312,153 square feet) of flexible, grade A floor space across up to 12 units. Completion is expected in early 2021.

This latest acquisition complements the fund’s earlier purchase of a 67,000-square-meter (721,182-square-foot) fully let logistics complex in Ontigola, Madrid, in July and reinforces the firm’s commitment to the wider Spanish logistics market where PATRIZIA currently manages more than square meters (2.4 million square feet).

In September, TEP VII’s fourth office redevelopment within Barcelona’s 22@ innovation district was closed — where the fund now has close to €100 million ($110 million) invested. Located adjacent to

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