Mapletree Investments Acquires First Logistics Asset Uk 10 Warehouses Spain Eur3151 Mil
Mapletree Investments acquires first logistics property in UK, 10 warehouses in Spain for EUR315.1 mil
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Mapletree Investments has recently made its first move into the UK logistics market with the acquisition of a logistics property in Derby Commercial Park. The property, along with 10 warehouses in Spain, were acquired for a total of EUR315.1 million ($444.5 million). These acquisitions, totaling 256,000 sqm, will be part of Mapletree’s second European logistics-focused fund, which will be launched at a later date.
According to the group’s Jan 27 release, this move reflects Mapletree’s strategy to deepen its focus in the logistics sector and expand its global presence. “Logistics remains a highly attractive sector that has consistently enjoyed strong demand from occupiers as well as investors. E-commerce continues to thrive and companies are making efforts to secure and expand their supply chains,” explains Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm.
Van der Beek adds that the group is looking forward to these assets delivering stable and recurring returns over the long run. The UK property is strategically located in Derby Commercial Park, with easy access to major arterial roads such as the M1, A50 and A6. It is also situated near the city centre and the East Midlands Airport. The tenant at the property has recently renewed its long-term lease, according to Mapletree.
Meanwhile, the 10 warehouses in Spain are located across the first rings of Barcelona, Valencia, and Madrid. These assets are situated in core logistics hubs with immediate access to the city centre via various transportation modes. They are expected to benefit from the commitment of third-party logistics providers and manufacturers, who have invested in automation and fit-outs on site due to the proximity to their production facilities.
With these latest acquisitions, Mapletree now has 80 logistics assets across eight countries. In addition to its expansion in Europe, the group has also been active in other markets such as Hong Kong, where it has acquired the Goldin Financial Global Centre for US$713 million, and in the US, where its subsidiary Oakwood plans to open 20 new properties in 2022, with the aim of doubling its portfolio by 2025.
