Viva la logística
Spain’s logistics market is storing up stable returns and continues to attract cross-border capital, writes Jennifer Bollen.
Figures from BNP Paribas Real Estate show stark differences in subsectors across European real estate investment funds. As of late April, year-to-date total returns in retail had slumped by about 55 percent, while offices had fallen by about 9 percent. In the industrial sector, they remained in positive territory, growing at about 5 percent.
It is numbers such as these that have moved managers to focus even more intently on the logistics space during the crisis. Ludovic Bernini, fund manager of logistics at real estate manager AEW, continues to pursue logistics deals despite the disruption the lockdown has caused to business. “But we are very selective,” he says.
Within Europe, it is Spain, in particular, that has hugely benefitted from the industrials success story. Positioned on the strategically important Mediterranean corridor, m