trending Market Intelligence /marketintelligence/en/news-insights/trending/4QEJVUicLAcwB6uakO-_cA2 content esgSubNav
In This List

Azora, CBRE launch €250M logistics JV

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Video

S&P Capital IQ Pro | Powering Your Edge


Azora, CBRE launch €250M logistics JV

Spanish asset manager Azora Altus SL teamed up with CBRE Group Inc. to launch a vehicle that will invest €250 million to convert city-center properties into last-mile logistics locations, Business Immo reported, citing Spanish media.

The partners will contribute about half of the funds, with the rest sourced from banks, the publication added, citing the Expansiòn newspaper. Azora will be the minority owner and manager of the venture, while CBRE will provide real estate services.

Azora and CBRE are initially looking at Madrid and Barcelona to acquire furniture stores, car parks, dealerships, idle workshops or shopping centers and other properties suitable for the project.