Industrial real estate investment trust Prologis Inc., through its pan-European logistics fund, agreed to buy 18 logistics properties in Spain from Spain-based REIT Inmobiliaria Colonial SOCIMI SA, IPE Real Assets reported.

The transaction includes the immediate acquisition of 11 properties, totaling 314,000 square meters, and a call option for the remaining seven assets, totaling 159,000 square meters, over the next three quarters, according to the report.

The facilities and developments in the portfolio are spread across Madrid, Barcelona and Guadalajara, among other markets, the report noted.