Conforama Project
DESIGN OF STATE-OF-THE-ART LOGISTICS PLATFORMS.
P.I. Carrases, Lliria (Valencia).
60.000 m²
Investment
The Project
The property signed a long-term lease with Conforama, and once the tenant was in place, put the operation on the market. However, after more than a year without success (due to the unsecured contract) it was taken off the market.
At the beginning of 2022, the off-market operation came to us and we got an offer from an investment fund. Once an agreement was reached for 54 M€ and signed in June 2022, after 2 months of Due Diligence. Our task was to advise the buyer, accompanying them throughout the Due Diligence process and justifying the operation commercially.
The result:
The key was to find a new player that wanted to enter the Spanish market with a large logistics operation and with an asset known to the market.
The timing was ideal, as in the Valencian market there were no large operations and price references, however, thanks to our knowledge of the market and operations, we were able to defend the location, in the 2nd crown of the market, the tenant and the large size of the platform. We also accompanied the client throughout the negotiation process until the final closing.
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