Mapletree Investments has recently made some strategic acquisitions in the European logistics sector, with the purchase of its first logistics property in the UK and 10 warehouses in Spain. The total value of these acquisitions is estimated to be around EUR315.1 million ($444.5 million).
These newly acquired properties, spanning over 256,000 sqm, will be included in the seed assets of Mapletree’s second European logistics-focused fund. This move signifies the company’s goal of deepening its focus in the logistics sector and expanding its presence on a global scale, as stated in their press release on January 27.
The launch of the fund will take place at an appropriate time after achieving sufficient scale, according to Mapletree. Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm, explains that logistics remains an attractive sector, with strong demand from both occupiers and investors. He also notes the continued growth of e-commerce and the efforts of companies to secure and develop their supply chains.
Van der Beek believes that these newly acquired assets will contribute to stable and recurring returns over the long term. The UK property, located in Derby Commercial Park, boasts convenient access to major arterial roads such as the M1, A50, and A6. It is also strategically located near the city center and the East Midlands Airport. The tenant has recently extended their long-term lease, making this property an attractive investment for Mapletree.
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Meanwhile, the warehouses in Spain are situated in vital logistics hubs, with immediate access to the city center via various transportation options. They are located in the first rings of Barcelona, Valencia, and Madrid, and are expected to benefit from the presence of third-party logistics providers and manufacturers. These companies are highly committed to these properties, thanks to their proximity to production facilities and investments dedicated to automation and fit-outs on site.
With these new acquisitions, Mapletree now has a portfolio of 80 logistics assets spread across eight countries. This move aligns with the company’s growth strategy and its goal of expanding its presence in the global logistics market.