SEGRO has acquired a portfolio of Spanish logistics land sites. All of the sites are in Barcelona and Madrid and are able to support approximately 240,000 square meters (2.6 million square feet) of modern, sustainable warehouse space, developable over the next five years, which will allow SEGRO to continue to build scale and increase its presence in Spain.

As retail and office sectors trend toward volatility, the steady returns of sale-and-leaseback strategies are becoming attractive fixed-income substitutes. While transaction volumes have been lower during the pandemic, net lease strategies have been finding outsized success.

Amundi Real Estate, on behalf of the funds it manages, has acquired Alcala 544 and 546, two office building developments in Madrid with a total area of 30,000 square meters (322,917 square feet), from BNP Paribas Immobilier Promotion IE and Therus Invest.

• Lockdowns and social distancing have impacted many tenant businesses, resulting in an unprecedented number of requests for rental relief, stressing real estate rental-income streams.

• For equity investors, income returns have weakened, despite softening asset values. Recent income returns may understate the full potential impact as accrual of deferred rents may mask further shortfalls.

• Lower rental incomes may also stress debt covenants and increase servicing pressures on some loans. In loans that default and are foreclosed upon, falling asset values may also increase potential loss severity.

Clarion Partners Europe has acquired a 37,160-square-meter (399,987-square-foot) newly built, institutional-grade warehouse near Illescas Yeles, south of Madrid. The acquisition continues Clarion Europe’s strong 2020 during which it has collected all rent due, including the period since the Europe-wide lockdown commenced in March.

• Investors often think of their real estate exposure in terms of property type and geography, but there are many other potential factors that may help explain performance.

• Our analysis shows lease length has historically been one such cyclical factor, with long leases having provided a performance boost during periods of weakening rental growth – an insight that may prove particularly relevant in today’s economic environment.

• Investors may wish to benchmark more than just property type and sector exposure.

Will real estate, which has been for the past ten years, along with private equity, the best-performing and most attractive asset class for savers and large institutional investors, continue to lead the race? We can put an end to the suspense right now, we don't have the answer, but we propose a new way of looking at the risk premium of real estate investment for this near future.

Colonial announced today the disposal of 7 office buildings and a turnkey project in Madrid for a total price of €441m. These disposals have been executed with a +12% premium on the lastest appraisal value.
The divested portfolio has a gross lettable area of 106.574 sq m and is mainly located outside CBD (91%).

Almost a decade since the launch of the Spanish equivalent to the REIT regime, listed property vehicles are creating significant business in the debt space.

Invesco Real Estate has bought three newly-built logistics assets in Spain for two of its German separate account mandates. The global real estate investment manager said it bought the assets, made up of 189,500sqm of space, in Madrid and Barcelona for €173m.

GreenOak has expanded its European logistics platform with the acquisition of 22 assets in France and Spain. GreenOak Europe Fund II has added 720,000sqm of assets with the acquisition of 20 warehouses and cold storage assets in France and two cold storage assets in Spain.

Tritax EuroBox, a firm that invests in Continental European logistics real estate assets, has made its first investment with the acquisition of a global distribution center in Barcelona for €150 million.

On the 10th anniversary of the collapse of Lehman Brothers, the real estate debt industry is in better shape, but lenders can never become complacent again.

Blackstone Group LP and Centerbridge Partners LP plan to offer about 3 billion euros ($3.5 billion) for Banco Santander SA’s Madrid headquarters, according to a person with knowledge of the matter.

CBRE Global Investment Partners (CBRE GIP) and Madison International Realty have joined forces to buy a portfolio of Spanish residential properties worth €870m. The newly formed joint venture bought the 6,458-unit portfolio as part of the recapitalisation of a fund managed by Azora, which had come to the end of its life. Azora will continue to manage the assets and has a minority stake in the venture.

Luxembourg-based investment manager Threestones Capital has snapped up a handful of nursing homes across Germany, Spain and Italy for its latest €550m healthcare fund as it grows its exposure to southern Europe.

Henderson Park, the European real estate investment platform founded by Nick Weber, and Hines, the international real estate firm, announce that they have completed the acquisition of a site to develop a 750-bed student housing project in Barcelona, Spain.

The German fund manager Aquila Capital has launched a property developer called AQ Acentor. AQ Acentor has been created with more than 3,000 new homes under construction, of which around 500 will be handed over during the course of this year.

Corestate acquired a 413 unit student housing project in Sevilla in southern Spain for private investors as part of a Club Deal. Construction of the project started in June 2018 after Corestate had won a EUR 19.8m loan on a 5-year basis.