Madrid, July 31st, 2017.
Logic Spain KCRE, a Joint Venture created between Brunswick Invest, the principal investment arm of Brunswick Real Estate, the international property company Grosvenor, and the Spanish investor Kefren Capital, has closed the acquisition of a logistic platform located in Sant Esteve Sesrovires (Barcelona).
The platform was built in 2002 on a land plot measuring 23,000 sqm. The total built area amounts to 12,500 sqm, including c. 1,000 sqm of office space, and is currently let to an affiliate of Lear Corporation, a leading global supplier of automotive seating components and electrical distribution systems.
The logistic platform is located just 5 minutes away from the A-2 (Madrid-Barcelona) and AP-7 (Mediterranean Corridor) highway junction, 35 minutes from Barcelona Port and Barcelona-El Prat Airport. The logistic park has direct access to the Martorell SEAT factory, where SEAT manufactures 75% of its global output.
Logic Spain KCRE is led by the asset management firm Kefren Capital Real Estate (KCRE) and was advised by Bufete Buigas on legal matters and Mace on technical matters. The transaction is financed by Caixabank.
The seller was advised by CBRE during the process.
The Sant Esteve logistic platform is the third investment for Logic Spain KCRE. The vehicle’s objective is to invest more than Euro 100 million in logistic assets in the Spanish market mainly following a Value-Add strategy. Kefren Capital Real Estate will work as Asset Manager for those investments.
Brunswick Real Estate
Brunswick Real Estate is a market leading adviser, lender and investor in the Nordics. The team includes some 60 real estate investment professionals in Stockholm, Helsinki, Copenhagen and London as well as senior advisers with broad international expertise. The firm is led by Peter Leimdörfer and chaired by Gerard De Geer who have worked together for more than 30 years.
Today, Brunswick Real Estate is a trusted partner to a wide variety of reputable real estate investors and has successfully advised and invested clients’ capital for more than 20 years. The independent investment bank advises on sizeable real estate transactions and fund placement services. They are also able to capitalise and invest in all real estate asset classes via real estate investment vehicles including the unique ability to engage in principal investments supporting clients to unlock value. Further information is available at: www.brunswickrealestate.com
Grosvenor, one of the world’s largest private international property groups, works in some of most dynamic cities around the globe. We are guided by our ‘Living cities’ philosophy; we strive to create, manage and invest in properties and places that contribute to the enduring success of the cities in which we work.
Grosvenor established its Indirect Investment team in 2011. Its purpose is to further diversify the Group’s international property portfolio to achieve strong risk-adjusted returns by investing in third-party managed opportunities in sectors and geographies that complement the activities of Grosvenor’s regional Operating Companies.
The Indirect Investment team seeks opportunities in markets that are undergoing cyclical change or where structural changes create some form of undersupply or where it believes there is mispricing. It is increasingly seeking to identify opportunities which are un-correlated with commercial property cycles. Further information is available at: www.grosvenor.com
Kefren Capital Real Estate
KCRE is a real estate asset management company created in 2012 by the investment firm Kefren Capital. KCRE offers investors the full range of services required for a real estate transaction: sourcing, analysis, financing structuring, deal negotiation and asset management. What differentiates KCRE from other platforms is its ability to co-invest and its investment philosophy – assets are managed from the perspective of the owner and not simply as a third-party manager. Over the last 3 years, the company has closed over 135,000 sqm in logistic transactions in Spain. Further information is available at: www.kcre.es