Global Real Estate Leader Continues to Expand its European Presence with Purchase of Ten Logistics Assets Throughout Spain
Spain, October 2020 – Thor Equities Group, a global leader in urban real estate development, leasing and management, has signed a contract to acquire the Urban Link Portfolio for €90 Million, company executives announced.
The Urban Link last-mile industrial portfolio comprises approximately 104,000 square meters across 10 logistics assets in Madrid and Barcelona. Of the ten assets, seven are located outside Madrid and three are outside of Barcelona. The portfolio features a strong register of tenants including SEAT, GEFCO, DSV, and Endutex. Notable neighboring businesses include Amazon, XPO, TNT, Rhenus, El Corte Ingles, DHL, Mercadona, Alcampo, Dia, SEUR, Peugeot, Decathalon, Kuhne + Nagel, and Aldi.
- Gold Portfolio (Madrid): 40,400 square meters of existing assets and new development
- Valdemoro (Madrid): 31,000 square meter asset + 7,500 square meters of new development
- BASE Portfolio (Barcelona): 14,000 square meters
- Silver (Argentona) (Barcelona): 10,500 square meters
“The Urban Link acquisition will significantly expand our presence in Spain,” said Chairman & CEO of Thor Equities, Joe Sitt. “We recognize the critical role logistics plays in the current economy and are pleased to add a collection of high-quality assets to our portfolio and look forward to identifying new opportunities and hope to invest further in Southern Europe.”
“The Urban Link acquisition marks an incredibly important milestone for the ThorLogis platform. Comprised of first-rate assets and space to develop additional industrial sites to meet e-commerce demands, the transaction helps to strengthen Thor’s status as a leader in the logistics market,” said Managing Director of Europe, David Hunt-Cuadrado.
Thor Equities’ recent European acquisitions include the Tudor Portfolio, a set of seven logistics properties in the UK, and 6 Rue de Sevres in Paris, which were acquired in September and April of 2019 respectively.