Merlin purchases logistics centre for €22.2M

The real estate asset management company Kefren Capital Real Estate (KCRE) bought the asset last August and since then until now it has actively worked to attract the interest of big investors.

"The scope of this transaction is to turn a value added asset in a core one, adapted to the requirements of institutional investors, in a record time" as Pelayo Primo de Rivera, executive partner at the KCRE explained.

The property, built in 2009, is located in the R-2 industrial zone Meco on a plot of 50 727 sqm and it occupies an area of 35 285 sqm.

The legal advisors to the transaction were Broseta on the sell-side and Garrigues on the buy-side.

The Socimi Merlin Properties has purchased a logistics centre located in the R-2 industrial estate in Meco from the real estate asset management company Kefren Capital for €22.2 million. The property, built on a plot of land measuring 50,727 m2, occupies a surface area of 35,285m2, and contains four modules, 31 loading bays and 4 HGV doors. The Dachser Group leases the entire platform.

The legal advisors to the transaction were Broseta on the sell-side and Garrigues on the buy-side.

KCRE acquired this asset in August 2014 following the bankruptcy of the company Coperfil and it financed the transaction through Nordic investors, which acquired capital, as well as by securing a loan for the project from CaixaBank.