Managers have continued to purchase Iberian industrial assets in the early stages of 2019.

Gramercy Europe acquired three warehouses in Catalonia, Spain, in two separate transactions, for €32.25 million, on behalf of its Property Europe III fund.

The first transaction involves two logistics facilities in Constanti, an area south of Barcelona, in an established business park, for a total of €22.75 million. The first warehouse is fully let to Chemiprats, a distributor of plastic polymers and resins, on a triple-net, CPI-linked lease. The second asset is let to Ingram Micro, a computer and electronic equipment distributor. The third warehouse, also south of Barcelona, has been bought for €9.5 million and is let to Naeko Logistics, a 3PL servicing a contract for an international retailer.

In a joint venture, KKR, Round Hill Capital, and developer Pulsar Properties are forward purchasing four purpose-built Spanish logistics warehouse developments. The four asse