Information on the Target

Azora has acquired a logistics asset located in Gélida, Barcelona, encompassing an area of 24,865 square meters. This property is currently leased to the Dachser Group, a prominent leader in the European transport sector. Its strategic location provides direct access to the AP-7 motorway and is situated near its junction with the A-2 freeway, facilitating efficient regional and national transport logistics.

This acquisition marks Azora's eighth transaction in the logistics sector, underscoring its commitment to investing in high-quality, well-located assets. The portfolio now totals approximately 100 million euros across around 90,000 square meters of logistics space.

Industry Overview in Spain

The logistics sector in Spain has shown robust growth in recent years, driven by a surge in e-commerce and rising demand for swift delivery services. Major cities like Madrid and Barcelona have emerged as vital logistics hubs, supported by extensive transport infrastructures such as highways, shipping ports, and airports. This trend has resulted in increasing leasing activity within the sector.

Throughout 2022, Madrid recorded take-up levels of nearly 1.3 million square meters of logistics space, while Barcelona saw over 800,000 square meters leased—among the highest figures ever observed in both cities. The demand for logistics and warehousing space in Spain reflects broader trends in European logistics markets.

The Spanish logistics market is characterized by a growing concentration of logistics companies aiming to streamline their operations. The proximity of logistics facilities to key transport links ensures that businesses can effectively manage their supply chains and meet customer demands swiftly.

Local real estate firms and investors continue to display strong interest in the logistics market, anticipating ongoing growth due to evolving consumer behaviors and the continuous digital transformation of retail. The strategic positioning of logistics assets plays a crucial role in achieving operational efficiency, ultimately shaping the future landscape of the industry.

The Rationale Behind the Deal

This acquisition aligns with Azora's long-term investment strategy focused on established logistics markets with high-quality assets. By strengthening its logistics portfolio, Azora aims to capitalize on the growing demand for logistics space in core metropolitan areas. The deal enhances Azora’s commitment to investing in well-located properties that possess solid construction and operational standards.

Moreover, the leasing of the Gélida asset to the reputable Dachser Group not only ensures reliable income but also reflects the strength of the current logistics market in Spain. As such, Azora's strategic selection underscores its intent to remain highly selective while pursuing further growth opportunities in the sector.

Information About the Investor

Azora is a well-established investment firm that specializes in the acquisition and management of high-quality real estate assets across various sectors. The firm has a proven track record in the logistics market, having launched two dedicated investment vehicles aimed at last-mile logistics in Spain. These vehicles are partnered with Indosuez Wealth Management and PGIM Real Estate, enabling Azora to leverage significant resources and expertise in this growing market.

With a focus on strategic investment and operational excellence, Azora seeks to create value through its meticulous approach to property selection and asset management. The firm is recognized for its in-depth knowledge of local submarkets and the agility it brings to deal execution, essential traits in the fast-paced logistics sector.

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The recent acquisition by Azora can be deemed a prudent investment within the current logistics landscape in Spain. Given the robust demand for logistics space and the strategic location of the Gélida asset, it presents a promising opportunity for sustained income and growth. The tenant's reputable standing adds a layer of security to cash flows, making this investment particularly appealing.

Additionally, Azora's commitment to high-quality assets aligns with market trends, emphasizing the importance of strategic positioning for operational efficiency. Investing in consolidated logistics markets like Barcelona ensures that Azora remains at the forefront of market dynamics and consumer demands.

However, potential investors must remain vigilant about market fluctuations and evolving logistics trends. The agility and analysis capabilities that Azora prides itself on will play a critical role in navigating these challenges and identifying future opportunities that arise in the sector.

In conclusion, the Gélida acquisition not only strengthens Azora’s logistics portfolio but also positions the firm favorably within one of Europe's most dynamic logistics markets, making it a smart strategic move that could yield positive returns in the long run.

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