Spanish property group Merlin Properties has bought Saba’s logistics business, which owns five logistics parks, for €115m, according to local press reports.
The acquired assets include the Cim Vallès site in Barcelona and Lisboa Norte in Portugal as well as stakes in the Zona Franca logistics park in Barcelona, Sevisur in ZAL Puerto de Sevilla and Arasur in Álava, several Spanish newspapers, including Expansion, reported.
Including this sale, Saba has divested €300m worth of assets as it seeks to concentrate on its car parks business, according to the reports.
Listed on the Spanish Stock Exchange, Merlin Properties acquires and manages commercial assets in the Iberian Peninsula. It has more than €6.5bn under management.