MADRID, 25 Mar. (EUROPA PRESS) -
Azora, through two logistics vehicles that it manages, has purchased an asset portfolio valued at 91 million euros previously managed by CBRE Investment Management, as reported by the company in a press release this Monday.
Specifically, the portfolio is made up of 11 assets, located in the Henares Corridor, on the A2, which total 193,000 square meters and are financed by a loan of up to 54.9 million euros.
Azora has highlighted that the assets are being leased to international and domestic logistics operators, such as ID Logistic, Siemens, TD Synnex, Grupo Carreras, Factor 5, Truck
The company has explained that the planned plan for the portfolio is to carry out a "significant" investment plan in the acquired warehouses, focused on modernizing them, improving work spaces and implementing measures aimed at increasing efficiency. energy and other aspects of sustainability.
The operation has been carried out as a joint investment between MilePro and Ashington, the new company established for the operation that will also benefit from the SOCIMI regime.
The two companies participating in the operation, as detailed by the company, have been created as a result of collaboration between Azora and Indosuez Wealth Management, the wealth management and private banking division of Crédit Agricole.
With this operation, Azora has indicated that it consolidates its presence in the logistics segment, in which it has more than 700 million in assets under management between Spain and the United States through the two companies indicated, the 'joint venture' with PGIM to last mile assets and separate accounts with 'family offices'. Thus, in Spain it has nearly 300,000 square meters of logistics assets under management.
Azora's partner responsible for logistics, Javier Picón, commented that the acquisition of this portfolio "is one more step in Azora's logistics investment strategy", a market with "solid demand fundamentals based on the growth of electronic commerce." and redesign of logistics distribution chains".
"We are convinced that the growth of logistics space must have as a priority the positive impact on urban development, both in the definition of new developments and in investments in existing assets for their improvement and implementation of sustainability measures," he considered. Irritation.
For its part, MilePro, which was established in 2021 between Azora and Indosuez Wealth Management, and which was listed on BME Growth on May 26, "successfully" completes the initially planned investment plan of 120 million euros, consolidating a portfolio of "high quality" assets in terms of locations, construction qualities and strength of tenants.
Furthermore, Ashington is the new company created in collaboration with Indosuez Wealth Management and, with capital of 24 million euros from private investors and family offices, it will benefit from the socimi regime.
Crédit Agricole Corporate and Investment Bank has advised Azora and Indosuez on the transaction, in addition to the advisors who participated in the execution by the buyer, Knight Frank and Belog as commercial advisors, Cuatrecasas as legal advisor, KPMG and Crédit Agricole Investment Banking as financial advisors, and Almar Consulting as technical advisor.
On behalf of CBRE IM, Savills and CBRE participated as coordinators of the sale, Dentons as legal advisor, PWC as financial and tax advisors, and Dokei and Ramboll as technical and environmental advisors, respectively.
