Prologis, Inc., the global leader in logistics real estate, today announced that it had signed an agreement with Spanish REIT Colonial to acquire 18 logistics buildings totalling 473,000 square metres.

The buildings are in some of Spain’s core logistics markets, including Madrid, Barcelona and Guadalajara.

”As an active buyer in the market, we purchase highly complementary land tracts and logistics facilities that are in line with our strategic investment approach,” said Joseph Ghazal, chief investment officer, Prologis Europe. “This transaction, , signed on behalf of our European logistics fund PELF, more evenly distributes our resource allocations between our European regions. Further, this accretive acquisition brings considerable value-added upside as markets strengthen further in Southern Europe and rental growth drives investor returns.” 

The agreement includes the immediate purchase of 11 facilities, totaling 314,000 square meters. In addition, Prologis has a call option for 7 developments, totaling 159,000 square meters, over the next three quarters.

“This portfolio significantly bolsters our presence in the Spanish market, notably in the Henares corridor between San Fernando de Henares and Guadalajara and along the A2 motorway that connects Madrid and Barcelona, the Iberian’s Peninsula’s main logistics corridor,” said Gustavo Cardozo, country manager, Prologis Iberia.

Pere Viñolas, CEO of Colonial, explained that "we thought that the opportunity to sell our logistic assets was excellent. Therefore, we set up a competitive process, and received many offers and interest from the market. Finally, we are very satisfied with the final outcome". “This transaction allows Colonial to focus on its core business and as a leader in office real estate sector in Madrid, Barcelona and Paris and demonstrates our ability to maximize shareholder profitability based on active portfolio management,"

Prologis was advised by CBRE, Clifford Chance.

Colonial was advised by JLL, Knight Frank and Ramon & Cajal. 

About Prologis

Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2019, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 786 million square feet (73 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,100 customers principally across two major categories: business-to-business and retail/online fulfillment.

Forward-Looking Statements

The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management’s beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature.  All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust status, tax structuring and income tax rates (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading “Risk Factors.” We undertake no duty to update any forward-looking statements appearing in this document.


Víctor Castell

Email: [email protected] - Tel: 93 635 05 00

Toni Vázquez

Email: [email protected] - Tel: 93 635 05 00


Nathalie Triolet

Email: [email protected] - Tel: +33 (0)1 48 14 54 51 


3, Avenue Hoche
75384 Paris
Régis​ Joyeux
Marketing and Communications Manager, Southern Europe
+33 01 48 14 54 20
[email protected]
Paris, France

Older Press Release
Prologis Reports Second Quarter 2019 Earnings Results and Announces the Signing of a Definitive Agreement to Acquire IPT


Every connection starts with a conversation. Our team is here to help.