Logicor is flooding the market with assets. The logistics company has commissioned JLL and Knight Frank to help it sell off assets in Madrid and Guadalajara valued at 300 million euros.
These properties in the central peninsular area have a gross leasable area of 300,000 square metres. Logicor seeks to take advantage of investor interest in the logistics segment to sell part of its portfolio.
Logicor, however, is not looking to exit the market completely. The company has close to one million square metres in Spain, located in the centre of the peninsula, Barcelona and Valencia.
The company has a portfolio of more than 600 assets in Europe, totalling 13.6 million square metres in 17 countries. Although it is based in London and Luxembourg, it is owned by the Chinese sovereign wealth fund China Investment Corporation (CIC). Blackstone sold the company to its current owners in 2017 for €12.25 billion.