Mapletree Investments Acquires First Logistics Asset Uk 10 Warehouses Spain Eur3151 Mil

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Mapletree Investments acquires first logistics property in UK, expands in Spain

Mapletree Investments has made its first foray into the UK logistics market with the acquisition of a logistics property in Derby Commercial Park for an estimated value of EUR315.1 million ($444.5 million). The property, which spans 256,000 sqm, will be part of the seed assets for the real estate group’s second European logistics-focused fund. This strategic move is in line with Mapletree’s plans to strengthen its position in the logistics sector and expand its global presence, as highlighted in the company’s Jan 27 press release. The fund will be launched at an opportune time after it has achieved the desired scale.”Logistics is a highly attractive sector that continues to witness robust demand from both occupiers and investors. The growth of e-commerce has created a need for companies to secure and expand their supply chains,” notes Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm. He adds that the company is looking forward to benefiting from stable and recurring returns from these acquired assets over the long term. The newly acquired UK property is situated in Derby Commercial Park, which offers easy access to major arterial roads like the M1, A50, and A6. Moreover, it’s located in close proximity to the city centre and the East Midlands Airport. According to Mapletree, the tenant at this property has recently renewed its long-term lease for the asset.The remaining 10 warehouses that have been acquired are all in Spain, one each in Madrid and Valencia, and the remaining eight are located in Barcelona. All these assets are well positioned in core logistics hubs that offer direct links to the city centre through multiple transportation modes. Mapletree believes that these assets are uniquely placed to cater to third-party logistics providers and manufacturers, due to their close proximity to their production facilities. As such, these assets will be a valuable addition to the group’s portfolio, given the investments made in automation and other on-site fit-outs.The company currently holds 80 logistics assets across eight countries, following the recent acquisitions.