MADRID - January 23, 2024 – BGO is pleased to announce the acquisition of a land plot in Fuenlabrada, Madrid (Spain), to develop an approximately 22 thousand square meter, Class A cold and frozen storage logistics facility on a built-to-suit basis for its tenant, Logifrio. The asset will be a state-of-the-art cold storage facility with 15-meter clear heights, ample dock space and dock doors to expedite distribution and handling services, and convertible chambers at the facility with temperature capabilities between -25 to 18 degrees Celsius. The asset is located by the M-50 ring-road and near the A-42 within Madrid’s first logistics ring, a strategic location for the tenant’s distribution activities.
The asset will be occupied by Logifrio on a long-term basis, a leading operator in the controlled-temperature logistics services in Portugal and Spain, with over 35 multi-temperature platforms and a capacity of more than 700,000 m3 of cold storage and with more than 27,000 delivery points across Spain and Portugal.
For this development, BGO has partnered with Hispavima, a Spanish development manager with strong expertise in the logistics and cold storage sectors. The transaction further positions BGO as one of the largest Cold Chain Logistics real estate investors in the world.
“BGO’s global focus and expertise in the Cold Chain Logistics sector fits perfectly with Logifrio’s requirement for a new, state-of-the-art cold storage logistics asset in Madrid to continue growing their business. We are delighted to continue our longstanding relationship with Logifrio, an impressive business that we have worked with in Spain, having previously helped them expand an asset in Barcelona. Logifrio are one of the leaders in cold storage operations in Spain and Portugal, and have demonstrated true expertise in the space,” said Jasie Leekha, Managing Partner, BGO. “BGO’s aim is to be the partner of choice for cold storage companies across the Iberian Peninsula and Europe, and we will continue to seek out strategic opportunities to deploy capital to grow our position in the European cold chain logistics sector for the future.”
BGO, Hispavima and Logifrio have been advised by Colliers, Knight Frank, JLL, Dokei and Clifford Chance. Pavasal will be the GC in charge of the construction of the asset.
BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $81 billion USD of assets under management (as of September 30, 2023) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
Media Contact
Rahim Ladha
Global Head of Communications
media@bgo.com