Release Date: 07 January 2008
Release ID: 1399
The company has signed an agreement with Inmobiliaria Colonial giving abertis logística ownership of various properties intended for logistics activities in Barcelona and Madrid’s major industrial belts, with total surface area of 400,000 square metres and 250,000 square metres of allowable lot coverage.
Abertis Logística will invest €201.6 Mn to acquire a portfolio of properties, 50% of which is already commercially operational, with an outstanding location in the main industrial transport corridors in both Madrid (the Henares corridor) and Barcelona (the AP-7 toll road).
Abertis Logística meets one of its major strategic goals, i.e. to set up a base for its network of parks with nodes and reference points in the east (Barcelona), west (Lisbon), north (Alava), south (Seville) and centre (Madrid) of the Iberian peninsula.
Forecasts for 2008 point to €8 Mn revenues and an Ebitda of €5 Mn for the acquired actives. It is also estimated that in 2011 revenues will reach €20 Mn and the Ebitda will exceed €16 Mn, once culminated the €56 Mn investments to finish the projects under development that will allow the full commercial exploitation of the acquired actives. Barcelona, 31st December 2007.- abertis logística has signed a deal to acquire several properties intended for logistics activities from Inmobiliaria Colonial for €201.6 Mn. The assets added to the Abertis Logística’s portfolio have an estimated gross surface area of 400,000 square metres and a GLA of 250,000 square metres. They boast an outstanding location,
i.e. Madrid and Barcelona’s main industrial belts, and are at an excellent stage of development. Practically half of the surface area has already been placed on the market and the other half will be marketed between 2008 and 2009. The transaction will be financed by drawing down on short-term cash lines available and it is free of debts and financial burdens.
The deal marks a strategic milestone for Abertis Logística as it enables the company to gain a foothold in the centre of the peninsula, where it can set up a reference node for the logistics park network it is creating in Spain and
Portugal. The move is in line with the principle of a network of logistics parks located in the major corridors providing high capacity transport and quick access throughout the peninsula.
The company has also strengthened its position in the metropolitan area of Barcelona, where it currently operates the Parc Logístic de la Zona Franca, the CIM Vallès equipment and service area in the AP-7 corridor and has a (32%) stake in Centro Intermodal de Logística (Cilsa), which operates the ZAL (logistics zone) of the Barcelona port. The transaction is also expected to generate huge internal management, as well as commercial and relationship synergies, across Abertis Logística’s network of parks.
The vast majority of logistics operators are located in Spain’s areas of industrial and consumer development (Madrid and Barcelona) and show clear interest in expanding into new sites to carry out their activities. Abertis Logística’s network will provide transport and logistics companies, large retailers, consumer electronics and other industries, such as home appliances or textiles, a broad range of solutions for locating their distribution centres in the Iberian peninsula.
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