Located in the Villadangos industrial estate in León (Spain), the 32,645 m² warehouse is c Abrdn European Logistics Income (ASLI) has sold a warehouse in Spain, in Leon, Northern Spain, for €18.5m, a 3% above the asset’s 31 December 2022 valuation.
The warehouse, located in the Villadangos industrial area, is leased to French sporting goods and is currently leased to Decathlon.
Troels Andersen, lead fund manager for ASLI, said: “Having performed well since the acquisition, this is the right time to crystallise our investment by disposing of one of our more mature assets.
“This sale, which was achieved ahead of the most recent valuation, underlines the resilience of the Continental European warehouse sector and continues our portfolio pivot towards more urban assets with strong sustainability credentials.”
Andersen added that Spain remains one of ASLI’s “high-conviction markets, with our Spanish assets now wholly concentrated around the sought-after urban locations of Madrid and Barcelona”.
King & Wood Mallesons Spain’s work team has been led by Pepe Calleja.