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Tuesday, May 21, 2024

Andersen advises IBI Lion on €65m logistic acquisition from Neinver

Andersen has advised IBI Lion Socimi, the Spanish division of the Israeli fund IBI Investment, on the purchase of a logistics platform located in Valencia, which has acquired from the Neinver Group, through Neinver Logistics, for a value of 65 million

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The asset, located in the strategic Valencian town of Llíria, just 47 kilometres from the Port of Valencia, has a gross leasable area of 60,000 m² arranged in a single warehouse and occupied entirely by Conforama, a company dedicated to the retail sale of home furnishings.

Neinver Logistics fully developed this project in 2019 under the turnkey formula for Conforama, a company dedicated to the retail sale of home furnishings, which currently occupies it in its entirety.

Daniel Losantos, CEO of Neinver, said: “We are delighted to have closed this transaction with IBI Lion Socimi. This transaction demonstrates our ability and confidence to work with relevant international investors at a good time to recycle capital and diversify, in line with the Group’s asset rotation strategy”.

This transaction has benefited from the experience of the Group, which has been operating in the Spanish logistics asset development market for more than 50 years, developing more than two million square metres and which in 2018 starred in a major transaction by selling 500,000 sqm of logistics assets.

For Rafael Goldfeld, Co-CEO of IBI Lion Socimi S.A., “the completion of this transaction with Neinver Logistics and our financial partner ING, is a further step in the expansion of our investment portfolio in the Spanish market. This transaction is an example of our investment strategy focused on assets strategically located in the main centres of commercial and logistics activity”.

Andersen in Spain team was led by Real Estate partner Maite Hernández and associate Arnau Galera.

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