Patrizia makes forward purchase of €38m Spanish logistics asset

By Richard Hook2018-11-27T17:45:00

Patrizia Immobilien has agreed to forward-fund a DHL and Logisfashion pre-let logistics centre in Ontígola in Spain for €37.5m (£33.2m) for its pan-European value-add fund TEP VII.

Acquired off-market for TEP VII, the 715,000 sq ft grade-A logistics centre south of Madrid comprises two warehouses which are 100% pre-let on triple net agreements. Delivery is expected during the first half of 2019.

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