Mapletree Investments has expanded its logistics portfolio by acquiring its first logistics property in the UK and 10 warehouses in Spain for a total of EUR315.1 million ($444.5 million). These acquisitions, encompassing a total of 256,000 sqm, will be included in the group’s upcoming second European logistics-focused fund. This is part of the company’s strategic plan to further strengthen its foothold in the logistics sector and expand its global reach, according to a press release issued on Jan 27.
The fund is slated to be launched once it has achieved a significant size. “Logistics remains an attractive sector which has always seen strong demand from both occupiers and investors. E-commerce continues to thrive and companies are increasingly focused on securing and expanding their supply chains,” explains Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm.
He adds that the group is optimistic about the stable and recurring returns these assets will bring in the long term. The UK property is situated in Derby Commercial Park, with easy access to major roads such as the M1, A50 and A6. It is also conveniently located near the city centre and the East Midlands Airport. The tenant at the property has just renewed their lease for a long-term period, according to Mapletree.
Meanwhile, the assets in Spain are spread across the first rings of Barcelona, Valencia and Madrid, and are situated in prime logistics hubs with immediate access to the city centres via various modes of transportation. These assets are expected to benefit from third-party logistics providers and manufacturers, who have shown strong commitment to these properties due to their proximity to their production facilities and investments in automation and fit-outs on site.
With these recent acquisitions, Mapletree now has a total of 80 logistics assets in eight different countries.