2024-10-15 0:00 CET, France | Investment Management | Press release
The SCPI has signed an asset of over 5,000 sqm
Managed by Axipit Real Estate Partners, the SCPI Upêka is expanding its footprint in Spain. It has just completed its third acquisition there, signing a sale-and-leaseback transaction on a business premises asset located in the municipality of Onda, in the province of Castellón, near Valencia.
With a total area of 5,360 sqm, the asset comprises offices as well as workshop and storage spaces. It is leased to Granulation System, a family-owned company specializing in the manufacture of pellets, on a firm 15-year lease.
The acquisition was completed at a net initial yield of 7.57%, the SCPI stated in a press release.
As a reminder, the SCPI Upêka signed two retail units leased to Basic-Fit in Spain earlier this year. In the same country, it also acquired a business premises building this summer, located in Coslada, to the east of Madrid.
In this transaction, Upêka was advised by Aquila Asset Management, Catella Asset Management Iberia, Ontier, and Albion Theop Group. The seller was advised by BNP Paribas Real Estate and JM Arnau & Asociados.
