Barings invests in Madrid retail warehouse (ES)

Barings invests in Madrid retail warehouse (ES)

Barings has acquired a retail warehouse in Madrid, Spain on behalf of institutional investors. The recently developed property comprises 10,300m² and is fully let to Conforama, one of European’s largest retailers of furniture and household goods. Parking is provided for 200 vehicles. The purchase price was not disclosed.

 

Situated in Majadahonda, north-west of Madrid, the asset can be accessed via the M50 ring road and is adjacent to Gran Plaza 2, the largest regional shopping centre north-west of Madrid. The property has a large primary catchment area that includes the neighbouring municipalities of Las Rozas, Pozuelo de Alarco?n and Boadilla del Monte.

 

Adolfo Favieres, Managing Director, Real Estate Country Head Spain at Barings, said: “This transaction presents an opportunity to acquire a prime retail warehouse in a strong location with high footfall and growth potential over the coming years. These attributes mean this investment is perfectly aligned to our core strategy, as we continue to grow our presence in Spain across a variety of asset classes, focusing predominantly on logistics and offices.”

 

Gunther Deutsch, Managing Director, Head of Real Estate Transactions – Europe for Barings: “This acquisition was our third in Spain in 2019 after acquiring an office building with re-leasing potential in Madrid and a speculative logistics development in Ontigola which demonstrates our appetite to increase our exposure in this growing market. Our main focus in 2020 will be logistics, office and other sectors varying from core+ to value add risk-return profile.”

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