Prologis acquires Spanish logistics portfolio
Prologis has completed an acquisition agreement with Colonial comprising 18 logistics facilities totaling 473,000 square meters (5.1 million square feet) in Madrid, Barcelona, Seville and Guadalajara.
As part of the three-phased agreement, the company purchased two buildings in San Fernando de Henares totaling 56,000 square meters (603,000 square feet). In the first phase of the transaction, in August 2019, Prologis acquired 11 facilities totaling 314,000 square meters (3.4 million square feet). In the second phase in July 2020, it purchased five buildings totaling 100,200 square meters (1.1 million square feet).
“This transaction represents one of the largest in the Spanish logistics real estate sector in recent years,” said Ben Bannatyne, president, Prologis Europe. “It follows our strategy of investing in ‘parks’ or ‘hubs’ and introduces PARKlife more widely to our customers, a European program which improves the sustainability and environment of our