The firm strengthens its second logistics fund with properties in the UK and Spain.
Mapletree Investments, a leading real estate investment company, has completed a significant acquisition, purchasing its first logistics property in the UK and a portfolio of 10 warehouses in Spain for a total of €315.1 million (S$444.5 million). These newly acquired properties, offering a combined net lettable area of around 256,000 square metres, will serve as the cornerstone for the company’s second European logistics fund.
The acquisition, announced on January 27, will pave the way for the fund’s launch once it achieves sufficient scale. Ralph van der Beek, Chief Executive for Mapletree’s commercial and logistics division in Europe, stressed the logistics sector’s attractiveness, citing the robust demand from both investors and occupiers. The growing e-commerce sector is particularly influencing the need for expanding and securing efficient supply chains.
Located in Derby Commercial Park near the city centre and East Midlands Airport, the logistics hub in the UK benefits from a recently renewed long-term lease with its current tenant. In Spain, the 10 logistics properties are spread across key locations in Madrid, Valencia, and Barcelona. These sites are strategically placed within core logistics hubs, ensuring easy access to city centres and supporting last-mile distribution activities. Mapletree highlighted that the increasing demand for modern logistics facilities in these regions is contributing to the appeal of these assets.
The newly acquired properties benefit from a strong tenant base, primarily consisting of top third-party logistics providers and manufacturers who value the proximity to key production facilities and the ongoing investments in automation and site upgrades.
Looking ahead, Mapletree plans to continue expanding its European logistics portfolio by acquiring prime assets across the UK and Europe. With an existing diverse portfolio in office, mixed-use, and student housing properties, the company’s total asset value stands at over €4.3 billion as of March 31, 2024.
Since entering the European logistics market in 2018, Mapletree has built a portfolio of 80 assets across eight countries, 62 of which are held under the Mapletree US and EU Logistics private trust, focusing on investments across Europe and the Americas.
