In December 2020, we acquired high quality , income yielding, last mile warehouses located in south eastern Spain in a transaction valued at approximately US$77+ million. The properties are leased on a long-term basis to Amazon Road Transport S.L.U; a subsidiary of the global e-commerce retailer Amazon.

The investment in these properties, which cover an area of over 100,000 sq meters, benefits from strong market fundamentals for logistics and the warehousing sector in general as well as the thriving Spanish e-commerce sector, which continues to witness growth and holds even further potential for expansion.  The assets have been designed and built to the highest of specifications and form a critical part of the evolving supply-chain network in Spain that is geared to reduce delivery times for Amazon’s rapidly expanding Spanish logistics network. The warehouses have the potential access to more than four million people across south east Spain and located to the major motorways linking the eastern coast of Spain’s main cities of Barcelona, Valencia and Malaga to the European road network.