A Real Estate company has been advising the Pavasal and fund manager Invesco in areas around the creation of a major logistics platform that is located near Barcelona, Spain. BNP Paribas Real Estate has been advising Pavasal and Invesco on the project that will be made up of a 49,500 sq. m. logistics platform which will be created on land that has been purchased by Pavasal. The project will be let to third parties and then sold on to Invesco.
The construction of this platform is part of a speculative construction scheme that should demonstrate the improving and growing confidence of investors. This improvement is great for the recovering Spanish investment market and will also be a good sign for the country’s logistics sector.
The transaction is set to be carried out inside the industrial and logistics belt that is made up of the Spanish towns of Abrera, Martorell and Castellbisbal. This area where the logistics platform is set to be constructed in situated less than 27km from Barcelona.
The project is expected to be completed at some point in the first half of 2018. The property will be constructed in accordance with the most up to date energy efficiency parameters. This means that the buildings constructed as part of the project will be able to help generate energy savings for future consumptions. The construction work will take place in accordance with the highest quality standards. These standards include the operational logistics design as well as the application of the latest techniques in the construction industry. The warehouse that will be built as a part of this project will include the LEED Silver sustainability seal which means that the tenants of the building will be able to save some money on energy costs.
BNP Paribas Real Estate has taken charge of the coordination of the different parties on the project. The logistics team is also involved in advising all parties about the sale and acquisition deal in areas including the purchase of the land, and the definition of the project required by Pavasal. The advice from the logistics company will go up to the due diligence activities on the project as well as the final sale to Invesco.