PATRIZIA sells two Madrid logistics assets for €150m

PATRIZIA has sold two logistic assets for €150 million ($178 million) in the greater Madrid area to Real I.S., a real estate investment manager.

PATRIZIA originally bought the two assets in the Madrid districts of Getafe and Torrejón in 2015 and 2016, and since then has transformed the sites into prime logistics facilities, attracting tenants such as Amazon, Leche Pascual and GM Food.

Eduardo de Roda, PATRIZIA’s country manager for Iberia, said, “This landmark deal shows that thanks to our strong local expertise, we acquired these assets at just the right time, in the right place. We have once again demonstrated our ability to create sustainable value in our Iberian portfolio through our proactive and expert asset management. We remain committed to our logistics assets, which make up around a third of our entire real estate portfolio in Spain. Despite the challenging market conditions, we are fully on track to deliver on our local business growth objectives for