Swiss-based investment manager Spearvest has sold two logistics assets situated in the Zaragoza region of Spain to Sofidy, the French-based retail fund manager with assets under management in excess of €7.6bn.
The two assets provide a total of 27,797 sqm of logistics area, and both let on long-term leases to TXT, one of Spain’s largest logistics providers.
The assets were acquired as part of a wider logistics aggregation strategy by Spearvest, with the sale in line with the overarching investment thesis and the wider growth of the real estate platform, said Aurelio Di Napoli, Partner and Head of Real Estate.
The transaction was completed on an off-market basis for an undisclosed sum.
In addition, Spearvest currently has an active UK Student accommodation aggregation strategy targeting a portfolio of over £250m, in line with current institutional and UHNW investor demand seeking exposure to this sector that is demonstrating structural under-supply and robust cash flow protection in periods of volatility.
Partner Itxaso Lopez Díez and associate Gumersindo Manuel Clemente Tijeras from Dentons Spain acted as legal advisors to Spearvest.