Investment company Aquila Capital has entered Portugal with a deal to develop 115,000 m2 of logistics properties in Azambuja, 35 km north of Lisbon.

The Hamburg-based alternative investment manager said the development of the green properties in Azambuja is expected to begin in early 2020.
All the properties will be sustainable real estate assets with solar panels, the manager said. “Our investment strategy aims to capitalise on the yield spread in the logistics sector between southern and central Europe,” said Michael Husung, Aquila’s head of client advisory for real estate. “Spain, Italy and Portugal are in an earlier market cycle and have not yet experienced the same increases in property values and rents for logistics space that we have seen in Germany and the UK.”

Between €350 and €400 million is to be invested in long-term, fully-let properties in logistics locations in Spain, Italy and Portugal. The Hamburg-based company said it expects the strategy to generate returns of 7% to 8% for investors. Aquila Capital, which claims to be one of the ten largest European investors in the logistics sector and one of the largest residential property developers in Spain, said it plans to expand its real estate transaction volume to more than €1 billion by the end of 2018.

Source:
AICEP
Expresso