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Mileway sells nine warehouses in Madrid and Valencia

Mileway has decided to deflate its logistics portfolio in Spain. The logistics giant, backed by the American fund Blackstone, has put up for sale nine warehouses strategically located in Madrid and Valencia. These warehouses, with a total of 150,000 square meters, have a market value of 180 million euros, according to Expansión. 

Mileway was created by Blackstone in 2019 as a platform to consolidate and optimize its last mile delivery assets in Europe. In the case of Spain, this resulted in the launch of an impressive portfolio of 400,000 square meters. At the end of last year, Mileway was the largest owner of last mile logistics in the European market, with more than 1,750 assets. The United Kingdom, Sweden, Germany, the Netherlands and France represent approximately 85% of its portfolio, the remaining 15% is divided among southern European countries, such as Italy and Spain.

Mileway's latest outstanding operations in the Spanish market include the sale of various assets to Sagax for around 65 million euros, as well as the acquisition of seven properties in Barcelona, Valencia, Pamplona, Seville and Zaragoza. The sale of the Mileway portfolio is shaping up to be one of the most important transactions of the year in the logistics sector.

According to the results of the latest Investor Intentions Survey 2023 prepared by CBRE, the logistics sector in Europe has positioned itself as the third most demanded product by investors, with an impressive 23% of the total interested parties. This data places logistics behind offices, which lead with 29%, and the residential sector, which follows closely with 25%. 

In this sense, the consulting firm Savills Spain has made its own projections, predicting, that, despite a slowed activity in a first half of the year, an investment market in the logistics sector will reach a figure slightly higher than one billion euros by the end of the year.