There’s been a new transaction in the logistics market. DWS sold two warehouses located in Getafe, Madrid, for more than €20 million.
DWS acquired both assets, which have a usable area of 17,500 m2, in 2008. The warehouese are located at Calle de la Confianza 1 and Calle de la Tenacidad 2.
Built in 2005 and acquired by DWS in 2008 through its Grundbesitz Europe fund, the facilities are leased to operators such as Amazon and TXT. “This transaction demonstrates the ample investor appetite for the logistics sector in the metropolitan area of Madrid. DWS will continue to work to identify investment opportunities in key locations and strategic sectors such as residential and office, strengthening our footprint in Spain,” Manuel Ibáñez, Head of Real Estate for Spain and Portugal at DWS, explained.
The asset manager still owns three logistics assets in Spain and Portugal. In the summer, it bought a 52,000 m2 facility in Madrid from the developer ICC.
