12 October, 2023
by Europi Property Group
Ecologis, the logistics joint venture between Europi Property Group and Bedrock Capital Partners, has acquired a 7,200 sq m last mile asset in Porto
Ecologis, a leading owner of last mile and big box logistics assets within Portugal, has announced the platform’s latest acquisition of Estrada Velha, a 7,200 sq m last mile logistics asset in Matosinhos, Porto. This is the first acquisition within the Porto area for the expanding Ecologis platform.
The asset is well located between Porto city centre and Porto airport, with easy access to the A4 highway providing further connectivity through the North of Portugal. The site is occupied by an international medical equipment manufacturer.
The acquisition further grows the Ecologis portfolio, which now comprises 11 assets totalling 160,000 sqm. The strategy is primarily focussed on high-quality last mile and big box warehouses with good technical specifications, enabling a broad range of uses in addition to ensuring high operational efficiency for occupiers. All assets are strategically located close to major motorways and metropolitan centres, with the majority of the portfolio being located in Lisbon’s most sought after logistics zones. Present tenants include top-tier Portuguese and international logistics companies, food distributors and e-commerce players.
The Ecologis JV was founded in 2021 with a clear ambition to build a portfolio of sustainable big box and last mile logistics assets of scale, meeting the increasing needs and requirements of conscious tenants in a rapidly evolving market. Key strategic initiatives include upgrading the assets’ ESG credentials, for example installing solar panels on the roofs of the assets, providing renewable green electricity to occupiers and the surrounding local communities.
The platform continues to seek opportunities to grow through further acquisitions of existing assets with ESG improvement potential, in addition to selective developments of state of the art sustainable logistics facilities.
Savills/Predibisa advised Ecologis on the acquisition.
João Tenreiro Gonçalves, Executive Partner at Bedrock Capital Partners, commented:
“We are delighted to continue our work with Europi Property Group on the growing Ecologis platform in Portugal. This transaction gives us particular satisfaction, as it represents the geographic expansion of the platform to the North of the country.”
Jonas Fink, Investment Director at Europi Property Group, added:
“It is exciting that the Ecologis portfolio continues to grow, and to a significant scale now within the Portuguese market. The acquisition of Estrada Velha will be complimentary to the existing assets under management, and we continue to seek further opportunities to strategically add assets to the platform.”
