Generali Real Estate has announced the acquisition of Logistic Park Montornes, a state-of-the-art logistics facility located in Montornes del Valles (Barcelona). This acquisition was made on behalf of the pan-European Generali Real Estate Logistics Fund (GRELF), which is managed by Generali Real Estate SGR and is reserved for institutional investors, from Scannell Properties España.
This acquisition marks Generali Real Estate's first investment in logistics in Spain, underscoring the company's commitment to European logistics and its strategic objective to expand its portfolio with high-quality, sustainable assets. It also reflects their desire to grow within the dynamic Spanish market.
The newly constructed warehouse, completed in October 2023, spans 13,000m2 (GLA) and is fully leased to Grupo Transaher S.L. on a long-term basis. Strategically located within the first ring of Barcelona, the warehouse benefits from excellent connectivity. It is situated on the AP-7 motorway, also known as the Mediterranean Corridor, which provides direct connections to France and other major Spanish cities.
In alignment with Generali Real Estate’s commitment to sustainability, the warehouse meets the highest ESG standards. It holds an EPC Grade A rating, which is the top level in energy efficiency and indicates a low carbon footprint. Additionally, it has received BREEAM New Construction Excellent certification, highlighting the asset’s superior environmental performance and sustainable design.
Generali Real Estate manages a European portfolio of logistics parks in Italy, France, Poland, the Netherlands, and now Spain.
Pierre-David Baylac, Head of Logistics at Generali Real Estate, commented: “This acquisition represents a significant milestone in expanding our pan-European logistics strategy through the Generali Real Estate Logistics Fund (GRELF). Spain is a top priority; we plan to pursue more investments in 2025, focusing on Core+ and Value-Add opportunities. The Barcelona market, in particular, is characterized by supply constraints and promising rental growth prospects, making it a key destination for us. We are thrilled to partner with Scannell on this prime logistics asset, which meets our quality and sustainability standards, and we look forward to future collaborations. Additionally, we are pleased to welcome Transaher as a logistics customer to support their growth in Spain.”
Javier Inchauspe, Managing Director of Scannell Properties in Spain and Portugal, said: “We are delighted that Generali Real Estate has chosen Logistic Park Montornés as its first logistics investment in Spain. Seeking opportunities to create long-term value for both tenants and investors is our mission, and we look forward to further collaboration with Generali as it embarks on its investment drive in the Spanish logistics market.”
Generali was advised by DLA (legal and fiscal), Dokei RE, and Ramboll (technical and environmental) as well as Knight Frank (buy side commercial). Scannell Properties was advised by Dentons (legal).
Image source - Generali.
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