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, closed in July 2017 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 it was occupied by 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 was 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 Sant Esteve logistic platform was the third investment for Logic Spain KCRE. The vehicle’s objective was to invest more than Euro 100 million in logistic assets in the Spanish market mainly following a Value-Add strategy. Kefren Capital Real Estate worked as Asset Manager for those investments until their disposal in February 2019 as part of the Colombus portfolio.

Logic Spain KCRE, a Joint Venture created between Brunswick Invest, the principal investment arm of Brunswick Real Estate, the international property Group Grosvenor, and the Spanish investor Kefren Capital, closed in March 2017 the acquisition of a logistic platform located in La Bisbal del Penedés (Tarragona).

The platform was built in 2005 on a total plot area of 25,000 sqm. Total built area amounts to 15,252 sqm -including c. 500 office sqm-, and it was let to Applus Idiada, a top player in the designing, testing and homologation services for the automotive industry.

The logistic platform is located just 5 minutes away from the AP-2 (Madrid-Barcelona) and AP-7 (Mediterranean Corridor) highway junction, 40 minutes from the Barcelona Port and 20 minutes from Tarragona Port. The logistic park has direct access to Applus Idiada’s large proving grounds, where the company carries out its automotive tests.

Logic Spain KCRE was led by asset management firm Kefren Capital Real Estate (KCRE) and was advised by Bufete Buigas on the legal side and Mace on technical matters. The transaction was financed by Kutxabank.

The asset was successfully disposed within the Colombus Portfolio in February 2019.

Logic Spain KCRE, a Joint Venture between Brunswick Invest, Grosvenor Group and Kefren Capital, acquired in December 2015 a logistic platform of 29,700 sqm. The CTV portfolio was the first investment for Logic Spain KCRE.

Constructed in 2009 on a total plot area of 46,500 sqm. The assets comprise 29,700 sqm of cross docking and bulk storage warehouses divided in 10 modules with 109 loading docks and a clearance height of 8 – 10 m., which are currently let to a variety of tenants.

KCRE will provide Asset Management services to Logic Spain KCRE, a Joint Venture between Brunswick Invest, Grosvenor Group and Kefren Capital

The warehouse is made up of 6 modules with 24 loading docks and 4 TIR gates. With a clearance height of 10 – 12 m it fits the requirements for most large volume operators. The building additionally meets the medium risk fire protection requirements suitable for most tenants. A mezzanine space for offices is present in every module.

KCRE acquired the asset in June 2015 for a group of Spanish Investors from a fund in liquidation with only a couple of orphan assets remaining in Spain. Our company actively managed this investment in order to reposition it again in the market as a core logistic asset. To achieve this we addressed the capex backlog and improved the tenant mix and net rent level, among other actions. The asset was successfully disposed within the Colombus Portfolio in February 2019.

Kefren Capital acquired this asset in 2007 and was managed by KCRE from 2012 to 2019, leasing the asset to WEG and performing an active property management to improve the quality of the asset. This included works to isolate the roof and improvements in the office building.

The asset was a perfect solution for companies that wanted to have its headquarters and a sizeable modern warehouse in the same location.

KCRE performed extensive research and financial modelling to evaluate this investment. Subsequently, we managed the Due Diligence process and submitted a binding bid in a competitive auction, which resulted in a successful deal.

KCRE acquired the asset in October 2014 and closed its disposal just 7 months later, in May 2015, for an approximate amount of €22.2m. During the holding period, KCRE stabilized the lease situation and secured 10-year financing. We continued to lead an active property and asset management until exiting this investment.