Delin Property, a leading European logistics warehouse specialist, has announced the sale of two fully leased logistics parks on the outskirts of Madrid to EQT Exeter for €100 million. The sale marks a significant milestone for Delin, underscoring its expertise in developing, leasing, and managing modern logistics facilities in strategic locations across Europe.
The two properties sold by Delin are Alcalá East Madrid Park in Alcalá de Henares and South Madrid Logistics Park in Illescas. Together, these parks provide a total of 110,000 square meters of state-of-the-art warehouse space, which is fully occupied by major third-party logistics providers (3PLs) and prominent consumer brands. Both parks have received BREEAM sustainability ratings, reflecting Delin’s commitment to environmentally responsible development.
Strategic Hubs Serving Madrid and Beyond
Alcalá East Madrid Park, located in Alcalá de Henares, comprises two warehouses divided into five units, offering a total of 45,700 square meters of leasable space. The park is strategically situated 40 kilometers from central Madrid, with direct access to the A2 motorway, connecting it to Zaragoza and Barcelona. The park’s tenants include global logistics giant A.P. Moeller – Maersk, third-party logistics provider arvato-Bertelsmann, and home furnishings retailer Conforama. Each building in the park has been certified as “Very Good” by BREEAM, a testament to the high sustainability standards maintained throughout the development.
South Madrid Logistics Park, located in Illescas, is another key asset sold to EQT Exeter. The park, which has direct access to the A-42 highway linking Toledo and Madrid, comprises three modern facilities offering a total of 66,000 square meters of space. Pan-European healthcare supply chain provider Alloga occupies one 21,000 square meter building rated as “Outstanding” by BREEAM and recently expanded into a second property constructed to the same exacting standards. The park’s first building, delivered in May 2022, is occupied by Aigostar, a manufacturer of household appliances and lighting products.
A Successful Strategic Exit
The sale of these logistics parks represents the culmination of six years of value creation by Delin. Since entering the Spanish market in 2018, Delin has successfully acquired the sites, secured planning consent, and overseen the development of the parks to meet stringent sustainability criteria. The full leasing of both parks further demonstrates Delin’s ability to deliver high-quality, sustainable logistics assets in key locations.
Tom Wattles, CEO of Delin Property, commented on the sale: “The sale of these parks crystallises six years of value creation and showcases what we do best: mastering each step of the development chain to deliver modern, sustainable logistics parks in prized locations. As stabilised, quality assets, they are now ready for an institutional owner, and the parks’ customers will have an excellent new partner in EQT Exeter.”
Looking Ahead: Continued Growth in Spain
While the sale of these two parks marks a significant milestone, Delin’s commitment to the Spanish market remains strong. The company is currently redeveloping a 2.2-hectare site in Coslada, a prime logistics hub east of Madrid, where it plans to deliver a 13,363 square meter state-of-the-art warehouse later this year. Delin is also actively seeking new value-add and development opportunities in Madrid and other key Spanish markets, including Barcelona and Valencia.
Isaac Núñez, Delin’s Managing Director for Spain, emphasized the company’s ongoing ambitions: “The sale of our first two parks is far from the end of our journey in Spain as we have our ongoing Coslada project. We’re on the hunt to acquire more value-add and development opportunities where we can bring our expertise to bear and replicate our successes in Alcalá and Illescas. We’re looking in the Madrid region and beyond to other key locations, such as Barcelona and Valencia.”
Expert Support in the Sale Process
Delin was advised by several leading firms during the sale process. Knight Frank acted as the agent, CMS provided legal counsel, EY offered tax advice, and Artelia contributed technical expertise. This collaboration ensured a smooth transaction, reflecting Delin’s commitment to excellence at every stage of the process.
The sale of Alcalá East Madrid Park and South Madrid Logistics Park to EQT Exeter underscores Delin Property’s role as a key player in the European logistics market, with a proven track record of delivering high-quality, sustainable developments in prime locations.
