spot_img
Sunday, April 14, 2024

Jones Day advises on the sale of Thor Equities European logistics portfolio to Crossbay

A Jones Day’s Real Estate cross-border team has provided advice on the sale of Thor Equities European logistics portfolio to Crossbay

-

Thor Equities Group has sold a European warehousing portfolio to Crossbay, the urban logistics platform of pan-European investment manager MARK. The high-quality portfolio of eight assets includes existing warehouses and development sites on the outskirts of major cities in Spain, France, and the Netherlands.

The Spanish assets are situated in the locales of Coslada, Madrid, and Barcelona’s Montcada and El Prat. Dos Hermanas, Seville, and the North West’s Vigo make up the remaining assets in Spain. Villunueve is located within the first ring of Paris, while the Netherlands’ Lisse is on the southwest outskirts of Amsterdam. Tenants in the portfolio include Amazon, Conway, and the Volkswagen Group.

“This successful transaction bolsters Thor’s track record and demonstrates the strong demand for well-located assets across Europe,” said Chairman of Thor Equities Group, Joseph Sitt.

“Given the considerable shortage of development sites and first-class facilities outside of key cities, our portfolio was a highly sought-after opportunity, and we expect strong leasing activity to continue. Thor remains committed to building a best-in-class global logistics portfolio and we look forward to seeing our platform grow further,” he added.

Marco Riva, head of Crossbay and logistics at MARK, commented: “Spain, France, and the Netherlands remain key target markets for us and these acquisitions build upon the existing presence we have there. The rapid growth of the Crossbay platform in the space of two years is a vindication of our continental European ‘beds and sheds’ strategy, which is focused on aggregating granular assets to create institutional-grade portfolios of scale.”

Jones Day’s Real Estate multijurisdictional team was formed by of counsel Víctor Casarrubios and associate Luis Pérez Casas (Madrid), Real Estate practice leader Anna Cartwright and associate Liridon Sylisufi (London), M&A counsel Bastiaan Kout (Amsterdam), partner Erwan Le Douce-Bercot and of counsel Flavia Poujade (Paris).

- Advertisement -spot_img
- Advertisement -spot_img

MOST READ NEWS

Multi-firm advice on the €110m acquisition of Intermas Group by Abac Capital

Private equity fund Abac Sustainable Value II FCR “Abac” has completed the acquisition of Intermas Group. Abac, a fund specialised in sustainable value investments...

Deloitte Legal advises Saoyama on the sale of Aldiana Fuerteventura

The hotel division Der Touristik of the German food company Rewe acquires the Aldiana Club Ampflwang in Jandía (Fuerteventura), in one of the most...

Linklaters advises IVIRMA on its €3bn sale to KKR

The US fund has signed the acquisition of the Spanish company, a world leader in infertility treatments, eleven months after the transaction was announced,...
spot_img
spot_img
spot_img
spot_img
- Advertisement -spot_img
error: