Mapletree Investments Acquires First Logistics Asset Uk 10 Warehouses Spain Eur3151 Mil
Mapletree sells student housing portfolio in the UK for S$800 million
Mapletree Investments has recently added to its portfolio with the acquisition of its first logistics property in the UK and 10 warehouses in Spain. The total cost of these acquisitions amounted to EUR315.1 million ($444.5 million), and they will become part of the seed assets of the group’s upcoming European logistics-focused fund. This move reflects the company’s strategic plan to deepen its presence in the logistics sector and expand its global reach, as stated in a press release issued on January 27th.
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The fund, which will be launched at an appropriate time after achieving sufficient scale, is poised to benefit from the strong demand for logistics properties from both tenants and investors. The ongoing growth of e-commerce and companies’ increasing efforts to secure and expand their supply chains have made the logistics sector highly attractive. Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm, explains that the group is excited to see these assets generating stable and recurring returns over the long run.
The newly acquired UK property is situated in Derby Commercial Park, with easy access to major arterial roads such as the M1, A50, and A6. It is also in close proximity to the city center and the East Midlands Airport. According to Mapletree, the tenant of this property has recently renewed its long-term lease.
The 10 warehouses in Spain are strategically located across the first rings of major cities like Barcelona, Valencia, and Madrid. They are situated in core logistics hubs that offer convenient access to the city center via different modes of transportation. Mapletree believes that these assets will benefit from the presence of third-party logistics providers and manufacturers that are strongly committed to the properties due to the proximity to their production facilities. The owners of these businesses have also invested in automation and fit-outs on-site, further highlighting the appeal of these properties.
With the addition of these new assets, Mapletree now has a portfolio of 80 logistics properties spread across eight countries. This acquisition is in line with the company’s growth strategy, which includes expanding its portfolio of high-quality assets and increasing its global presence. Other recent developments include the sale of its student housing portfolio in the UK for S$800 million and the acquisition of Hong Kong’s Goldin Financial Global Centre for US$713 million. Moving forward, Mapletree aims to further enhance its presence in the logistics sector, as it continues to explore new opportunities for growth.