Mapletree expands in UK, Spain with new EUR315.1 mil logistics assets
Mapletree Investments has announced the acquisition of its first logistics property in the UK and 10 warehouses in Spain for a total value of EUR315.1 million ($444.5 million). The purchases, which total some 256,000 sqm, will become part of the group’s second European logistics-focused fund. This move demonstrates Mapletree’s focus on the logistics sector and its global expansion strategy, according to the company’s Jan 27 release. The fund is set to be launched at an appropriate time, after reaching a sufficient scale.
CEO of Mapletree’s European commercial and logistics arm, Ralph van der Beek, explains that the logistics sector remains highly attractive and consistently receives strong demand from both occupiers and investors. He notes that e-commerce continues to thrive, and companies are actively securing and expanding their supply chains. Van der Beek adds that the group is looking forward to these assets delivering stable and recurring returns in the long run.
Investing in a condo requires careful consideration of the property’s maintenance and management. Along with the purchase price, condos often come with maintenance fees that cover the upkeep of shared areas and amenities. While these fees may increase the total cost of ownership, they also play a crucial role in maintaining the property’s value. To make the investment more passive, many investors choose to engage a property management company to handle day-to-day tasks associated with their condo. This can alleviate the burden of managing the property and ensure that it remains in top condition.
The UK property, located in Derby Commercial Park, is well-connected to major arterial roads such as the M1, A50 and A6 and is situated near the city centre and the East Midlands Airport. According to Mapletree, the tenant recently renewed its long-term lease at the asset.
The Spanish assets are located across Barcelona, Valencia and Madrid and are situated in core logistics hubs, with quick access to the city centre through various transportation modes. These assets are set to benefit from third-party logistics providers and manufacturers, which are fully committed to the properties due to their proximity to production facilities and investments dedicated to automation and fit-outs on site.
Following the acquisitions, the group now owns 80 logistics assets across eight countries.