Lar España to exit logistics sector with €90m portfolio sale

Spanish REIT Lar España is seeking a buyer for its logistics assets worth around €90 mln as part of plans to re-focus on shopping centres, PropertyEU has learned.

The portfolio includes five logistics properties near Guadalajara and Valencia, representing some 160,000 m2 of space. Lar also owns a 200,000 m2 plot for the development of a new logistics park in Cheste (Valencia), currently valued at over €5 mln.

Potential buyers for the assets are believed to include US group Blackstone, Singapore GIC's P3 Logistic Parks, CBRE Global Investors, and Ares Management.

The assets would be the latest to be sold by Lar as part of its strategic refocusing. Earlier this year it sold two office buildings including the Egeo asset in Madrid to Colonial for a total of €112 mln. It still owns another three office buildings in Madrid and Barcelona worth around €85 mln.


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