Principal Asset ManagementSM has completed three new acquisitions on behalf of SCPI LOG IN. The first asset, consisting of a set of 3 buildings, is located on the outskirts of Pamplona in an established industrial area and leased for a period of 22 years. The second asset is located in an industrial area of Alicante, close to the urban center and the port, and is under a 14-year firm residual lease. The site is the headquarters and shipping center of a company specializing in the supply of maintenance equipment for professionals, able to deliver its products in 24 to 48 hours maximum in Europe. The tenant's activity does not involve high energy consumption and it has recently invested in a logistics robotic system that improves the efficiency and agility of the company, reducing the costs and delivery times of their goods in Europe.The third asset, located in the Munster region of Germany, is leased to a subsidiary of a Swedish group, a leader in the field of energy-efficient air handling solutions. The site produces air handling units for animal husbandry and is equipped with photovoltaic panels on the roof.
"These first acquisitions, made outside France, demonstrate our desire to build a European vehicle," said Romain Welsch, President of Theoreim. "New acquisition opportunities are being studied in order to quickly diversify the SCPI's assets in other countries."
"Our local presence in Spain and Germany made it possible to complete these first three acquisitions in a short time," commented Guillaume Masset, President of Principal Real Estate, "while other investments are also underway, particularly in Italy and the United Kingdom, our presence in eight European countries allowing us to support LOG IN in its diversification."
