Araoz & Rueda advises on the sale of five industrial and logistics properties 

• The transaction, closed for 57 million euros, is one of the largest of the year in the logistics segment

Araoz & Rueda, under the leadership of partners Eduardo de León, Jesus Conde and Israel de Diego and associates Vicente Paramio, Javier Sanchez, Gema del Río and Jon Ibeas, has advised on the sale of five industrial and logistics properties for 57 million euros, completing one of the largest transactions of the year in the logistics segment.

Real estate investment and management firm, Kefren Capital Real Estate (KCRE), advised by Araoz & Rueda, together with Brunswick Real Estate and Grosvenor Group, have sold four of the five assets to the multinational real estate investment trust Prologis (advised by Clifford Chance) and the remaining one to Blackstone Group (advised by Ramón y Cajal).

The properties are located in Spain’s most established logistics markets of Madrid and Barcelona, as well as the key northern market of Vitoria, have a total surface of almost 90.000 square meters, and are almost fully let with stable lease agreements and a diverse base of occupiers including a mix of third-party logistics providers and end users in the automotive and engineering sectors, among others.