Barings has sold the Ontígola Logistics park on behalf of its BREEVA I value-add real estate fund to M&G Real Estate for €40.6 million. The asset is located near Madrid, in the municipality of Ontígola (Toledo).
With this transaction, M&G brings its total exposure in Spain to close to €1 billion. The acquisition has been agreed on behalf of the €4.4 billion M&G European Property fund.
In May 2019, Barings acquired the land and then commissioned the developer Logistik Services to build the park, which consists of two warehouses with a total area of 49,000 square metres. The asset is currently leased for a period of nine years by the firm Iskaypet.
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