Generali Real Estate Expands in Spain with Logistics Asset in Barcelona 

Generali Real Estate Expands in Spain with Logistics Asset in Barcelona 

Spain real estate is witnessing a significant shift as Generali Real Estate has made its first logistics investment in Barcelona. This strategic acquisition highlights the growing importance of logistics in the Spanish market. 

Generali Real Estate has made a significant foray into the Spanish logistics market, marking its inaugural investment with the acquisition of Logistic Park Montornés, situated in the picturesque town of Montornés del Vallès, Barcelona. This strategic maneuver, announced on Thursday, was executed through the pan-European fund, Generali Real Estate Logistics Fund (Grelf), which is tailored for institutional investors. The seller in this transaction was none other than Scannell Properties, a name that resonates within the realm of real estate development.

While the financial specifics of the acquisition remain undisclosed, the asset itself boasts an impressive surface area of 13,000 square meters, having been completed in October 2023. It is noteworthy that the facility is fully leased to the Transaher group under a long-term contract, ensuring a steady stream of revenue for Generali Real Estate.

The location of this newly minted asset is particularly advantageous, nestled within Barcelona’s first metropolitan ring and enjoying seamless connectivity via the AP-7 motorway, colloquially known as the Mediterranean Corridor. This prime positioning not only enhances logistical efficiency but also underscores the asset’s potential for future appreciation.

In a statement, Generali Real Estate highlighted the asset’s commendable sustainability credentials, proudly noting that it has attained a grade A energy efficiency certificate alongside the prestigious ‘Breeam New Construction Excellent’ certification. These accolades reflect the firm’s commitment to environmental, social, and governance (ESG) criteria, which are increasingly pivotal in today’s investment landscape.

With this strategic entry into the Spanish market, Generali Real Estate has effectively broadened its European portfolio, which already encompasses notable countries such as Italy, France, Poland, and the Netherlands. This expansion not only signifies a robust growth trajectory for the firm but also reinforces its dedication to capitalizing on emerging opportunities within the logistics sector across Europe.

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