New KKR JV targets Spanish logistics assets

Global investment firm KKR has formed a joint venture with investor and asset manager Round Hill Capital and industrial developer Pulsar Properties to invest in southern European logistics real estate.

The JV, Pulsar Iberia Logistics, has inked a deal to forward purchasing four purpose-built Spanish logistics warehouse developments in Madrid and Barcelona which have been developed by Pulsar.

Three of the assets are located in Madrid. A freehold warehouse in the Ontigola area south of the city comprises 21,145 m2. In Torija, near the capital, another two warehouse developments of 33,091 m2 and 20,280 m2 respectively offer closer access to Barcelona.

The fourth asset is situated in Parets del Vallès in Catalonia, in a strategic location for the Mediterranean trade corridor linking northern Barcelona to the South of France, as well as connecting south to the rest of Spain.

KKR’s investment was made through its Real Estate Partners Europe fund.

The joint venture said it would continue to seek further logistics investments across select areas of Spain and southern Europe as part of the expansion of its Southern European Logistics platform.

RPE, the Iberian specialist real estate investment advisor, brokered the transaction and advised on the formation of the joint venture.

Freshfields Bruckhaus Deringer provided the legal and structuring advice for the new vehicle.


Latest news

Best read stories