Mapletree Investments has expanded its presence in the European logistics sector with the acquisition of its first logistics property in the UK and 10 warehouses in Spain for a total of EUR315.1 million ($444.5 million). These acquisitions, spanning approximately 256,000 sqm, will serve as the initial assets of the group’s second European logistics-focused fund.
The move reflects Mapletree’s strategic plan to deepen its focus and expand its global reach in the logistics sector. In a press release issued on Jan 27, the group states that the fund will be launched “at an appropriate time after achieving sufficient scale.”
According to Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm, “Logistics remains a highly attractive sector that has consistently enjoyed strong demand from occupiers as well as investors.” He attributes this to the thriving e-commerce industry and companies’ efforts to secure and expand their supply chains.
Van der Beek adds that the group is looking forward to the stable and recurring returns that these assets are expected to deliver over the long run.
One of the properties is located in Derby Commercial Park in the UK, with convenient access to major arterial roads such as the M1, A50 and A6. It is also in close proximity to the city centre and the East Midlands Airport. Mapletree states that the tenant at this asset has recently renewed their long-term lease.
The 10 warehouses in Spain are situated in core logistics hubs that are easily accessible to the city centres of Barcelona, Valencia and Madrid via various transportation modes. These assets are expected to benefit from third-party logistics providers and manufacturers, who have shown a strong commitment to the properties due to their close proximity to production facilities and investments in automation and fit-outs on site.
With these acquisitions, Mapletree now has a total of 80 logistics assets across eight countries.