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.