The first asset, located in Meco, was completed in the second quarter of 2020 and offers 51,969 m² of gross leasable space with a LEED Silver rating. The second, in Torrejón, was completed in the fourth quarter of 2019 and offers 15,890 m² of gross leasable space with a LEED Gold rating. Both properties are already let under triple net leases to prime tenants, including a German manufacturer of automotive components, a national distributor of kitchen equipment and an international sustainable energy company. They both also have the EPC A label.
Both assets enjoy excellent locations with easy access to the A-2 and R-2 motorways, and good connection with the M-50, Madrid’s most peripheral ring road. A driving distance of just 30 minutes from Madrid city center means that the assets are well positioned to accommodate, among others, tenants with a last mile approach.
The assets were delivered to high technical and environmental specifications, also benefiting from increased e-commerce penetration in Spain and the lack of Class A logistics properties in the region.
Antonio Roncero, Head of Iberian Peninsula Transactions at CBRE Investment Management, said: “This acquisition was a rare opportunity to secure a revenue-generating Category A logistics portfolio through an off-market process. Madrid’s logistics sector is attractive due to the potential for growth in user demand against an acute supply shortage. Despite the current economic headwinds, well-located, high-quality and sustainable assets such as these are well positioned to take advantage of the continued growth in rental prices in the logistics sector.
Manuel Ibañez, Head of Iberia Real Estate at DWS, highlighted: “In 2017, at DWS, we bet on the logistics sector and structured a forward purchase agreement with ICC, which resulted in the purchase of the two newly developed warehouses in 2019 and 2020. Following the rental of the two assets, we have decided to divest, thus completing the loop of this transaction, which will be profitable for our investors and is part of the value-added strategy of DWS We will continue to work to find investment opportunities in key locations and strategic sectors such as logistics, residential and offices, strengthening our presence in Spain”.
CBRE Investment Management’s logistics platform leverages the firm’s investor and operator capabilities to deliver innovative, globally aligned industry solutions that capitalize on market opportunities. The platform has 13.8 billion euros* of logistics assets under management in Europe, comprising 420* assets, 625* tenants and a leasable area of 8.4* million square meters in 12 countries.
*All figures as of Q2 2022
DWS – Real Estate
DWS has been investing in real estate assets for 50 years. As part of the Alternatives platform, the real estate business has over 450 employees worldwide and over €80 billion in assets under management as of June 30, 2022. Offering a diverse range of strategies and solutions across risk/return and geographic ranges, we offer core and value-added real estate, real estate debt, real estate securities and opportunistic real estate. The real estate investment business uses a disciplined investment approach and aims to deliver attractive long-term risk-adjusted returns, capital preservation and diversification to its investors, which include governments, corporations, development companies, and investors. insurance, endowments, pension plans and private clients worldwide.
About DWS Group
DWS Group (DWS) with €833 billion in assets under management (as of June 30, 2022) aspires to be one of the world’s leading asset managers. Based on more than 60 years of experience, it enjoys a reputation for excellence in Germany, Europe, America and Asia. DWS is recognized by clients around the world as a trusted source of integrated investment solutions, stability and innovation across a wide range of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities in all major liquid and illiquid asset classes as well as solutions aligned with growth trends. Our diverse expertise in active, passive and alternative asset management – as well as our deep focus on environmental, social and governance – complement each other when creating targeted solutions for our clients. Our expertise and the on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in a cohesive global view of the CIO, giving strategic direction to our investment approach.
DWS wants to innovate and shape the future of investing. We understand that, both as a company and as a trusted advisor to our customers, we have a crucial role to play in facilitating the transition to a more sustainable future. With approximately 3,600 employees in offices around the world, we are local yet a global team. We are committed to acting on behalf of our clients and investing in their best interests so that they can achieve their financial goals, no matter what the future holds. Through our entrepreneurial and collaborative spirit, we work every day to deliver exceptional investment results, in good and bad times, to lay the best foundation for our clients’ financial future.