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Merlin to Focus Its Logistics Investments Outside Madrid and Barcelona

After decades in which real estate investors considered it a minor investment, logistics assets, along with residential rental, have become the new object of desire in the market.

merlin
Ismael Clemente, CEO of Merlin Properties.

Merlin Properties, the socimi owned by Banco Santander, has a global portfolio of assets valued at €12.9 billion, including around fifty logistics complexes, with more than two million square metres, mainly in Spanish logistics hubs but also in Portugal.

“Following the sale of several assets at the beginning of the year – to Clarion Partners – the company now operates 2.1 million square metres in seven hubs in Spain and Portugal, and we have another 700,000 square metres under development, which gives us a certain leadership as a logistics operator in the Iberian Peninsula,” said Ismael Clemente, CEO of Merlin Properties, at a meeting held to review the year.

There will not be many changes in the portfolio in the short term. On the one hand, the socimi rules out taking advantage of the logistics demand to raise funds. “We are not considering selling. Of the 700,000 m2 that we will develop, around 160,000 m2 will be placed [on the market] within the next 12 months. In two or three years, we will bring all the land that we have not yet developed to the market,” Mr Clemente added.

Read the full article in Spanish

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