Grosvenor completes investment in Spanish logistics JV

Grosvenor Group’s indirect investment team has completed an investment in a Spanish logistics joint venture. Logic Spain KCRE is a joint venture between Brunswick Invest, Grosvenor and Kefren Capital.

16th December 2015

Grosvenor Group’s indirect investment team has completed an investment in a Spanish logistics joint venture. Logic Spain KCRE is a joint venture between Brunswick Invest, Grosvenor and Kefren Capital.

Logic Spain KCRE is led by asset management firm Kefren Capital Real Estate (KCRE). Please find below their press release on the joint venture and its first acquisition.

LOGIC SPAIN KCRE ACQUIRES A LOGISTIC PLATFORM OF 29,700 SQM FOR EUR 11.2M

The newly created Logic Spain KCRE, a Joint Venture between Brunswick Invest, the principal investment arm of Brunswick Real Estate, the international property Group Grosvenor, and the Spanish investor Kefren Capital, has closed the acquisition of a portfolio of logistic warehouses in the “Centro Intermodal de Transporte y Log√≠stica de Vitoria-Gasteiz” (CTV) in Jundiz (Basque Country) for circa Euro 11.2 million.

The assets in the portfolio were constructed in 2009 on a total plot area of 46,500 sqm. They comprise 29,700 sqm of cross docking and bulk storage warehouses, which are currently let to a variety of tenants, including DB Schenker, Correos, Eroski, and Grupo Antolin.

The CTV industrial park is located just 6 km from the centre of Vitoria, near the A-1 and AP-1 highways that serve as the main links between Madrid and the North of Spain. The area is well regarded by logistic operators, being the main logistic platform serving the Basque Country and the surrounding provinces.

Logic Spain KCRE is led by asset management firm Kefren Capital Real Estate (KCRE) and was advised by Araoz & Rueda on the legal side and CSI on technical matters. The transaction is financed by Kutxabank.

The seller was advised by Cushman & Wakefield during the process.

The CTV portfolio is the first investment for Logic Spain KCRE. The vehicle’s objective is to acquire more than Euro 100 million of logistic assets in the Spanish market. Kefren Capital Real Estate will then use its asset management expertise in the sector to create value for stakeholders. With other acquisition opportunities in the pipeline, Logic Spain KCRE expects to reach its investment goal in 2016.

ENDS

For more information contact:
Sorrel Basher, Press Office
Grosvenor
020 7312 6101
pressoffice@grosvenor.com

Notes to Editors

Grosvenor Group

Grosvenor is a privately-owned property group, active in some of the world’s most dynamic cities. They aim to create high-quality places for people to enjoy and which use resources responsibly.

Today they have 17 offices in 11 countries and assets in 16 countries. They have regional investment & development businesses in Britain & Ireland, the Americas and Asia Pacific. Their international fund management business works in partnership with investors from around the world and has a focus on Continental Europe. They also have indirect investments, managed centrally. As at 31 December 2014, the Group had total assets under management of £11.4bn. Unusually for a private company, Grosvenor publishes a detailed reporting suite - Annual Review, Financial Statements, Environment Data and index of sustainability reporting under the GRI initiative - available at: www.grosvenor.com.

Brunswisk 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 Leimd√∂rfer and chaired by Gerard De Geer who have worked together for more than 30 years. The vision was to create a firm acting as a value-creating partner for Nordic real estate investors, based on a clear set of guiding principles with the overriding principle of always putting clients’ interests first.

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.

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 past 18 months the company has closed over 120,000 sqm in logistic transactions in Spain. Further information is available at: www.kcre.es.

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