Development Assets Include Land in Castellbisbal, Sevilla and El Prat

Thor Urban Link, a division of Thor Equities Group, a global leader in urban real estate development, leasing and management has announced the acquisition of a premier last-mile logistics portfolio in Barcelona, a 14,000 square meter development site including assets in Castellbisbal, one in Sevilla and El Prat. Total purchase price of the portfolio was €12.5 million, requiring a total equity amount of €9.6m.

Thor Urban Link, formerly known as Thor Logis, has announced a new corporate name to support its continued expansion as one of the leading global developers of last-mile logistics and e-commerce facilities around the globe, including this Barcelona-based portfolio and other recent acquisitions in Southern Europe.

This premier industrial portfolio includes the following existing and available leasing:

• The asset in Castellbisbal is fully leased (near ERV) to Nice Fruit S.L. for an unexpired term of 13.2 years
• The asset in Sevilla is fully leased to Conway who have renewed until June 2021 and will then vacate
• The asset in El Prat is situated in prime central Barcelona, has been fully refurbished in 2019, and is currently available for lease (ERV of€85 psm)

Both the El Prat and Castellbisbal assets are located in a prime logistics cluster. El Prat is perfectly situated between El Prat Airport and the Port of Barcelona. Castellbisbal also has direct access to the A-2 and AP-7 motorways. The asset located in Sevilla is situated in the Poligono Industrial de la Isla, in the Dos Hermanas suburb of Sevilla, a premier industrial park with a heavy concentration of food and fresh produce distributors.

“We are pleased to announce the acquisition of these prime logistics assets in Castellbisbal, Sevilla and El Prat. Thor Urban Link has recently acquired several other high-profile industrial assets throughout Spain and Southern Europe, recognizing the demand for e-commerce and last-mile logistical space. Comprised of first-rate assets and space to develop additional industrial sites, the transaction helps to strengthen Thor’s status as a leader in the global logistics market,” said Chairman of Thor Equities, Joe Sitt.

ABOUT THOR EQUITIES GROUP:

Thor Equities is a leader in the development, leasing and management of office, industrial, laboratory, residential, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.