Delin Property Sells Two of its Madrid Logistics Parks to EQT Exeter for EUR100 Million

Press release: for immediate release

3rd September, 2024 (London) – Delin Property, the fully integrated European logistics
warehouse specialist, has sold two of the logistics parks it developed and leased to full
occupation on the outskirts of Madrid to EQT Exeter for 100 million euros.

The properties sold by Delin are Alcalá East Madrid Park in Alcalá de Henares and South
Madrid Logistics Park in Illescas, two strategic distribution hubs serving the Spanish capital
and the rest of Spain. The parks provide a total of 110,000 square metres of modern,
BREEAM sustainability-rated warehouse space occupied by major third-party logistics
providers (3PLs) and consumer brands.

Since acquiring the sites and establishing a local team in Spain in 2018, Delin obtained
consent to build the two parks, oversaw their development to meet stringent sustainability
criteria and leased all the space. Delin is also currently redeveloping a 2.2-hectare site in the
heart of the prime logistics hub of Coslada, east of Madrid, on which it will deliver a 13,363
sq.m. state-of-the-art warehouse later this year.

Tom Wattles, Delin’s CEO, said: “The sale of these parks crystallises six years of value
creation and showcases what we do best: mastering each step of the development chain to
deliver modern, sustainable logistics parks in prized locations. As stabilised, quality assets
they are now ready for an institutional owner and the parks’ customers will have an
excellent new partner in EQT Exeter.”

Alcalá East Madrid Park comprises two warehouses divided into five smaller units to
provide a total of 45,700 sq. m of leasable space. A.P.Moeller – Maersk occupies two units,
while Delin’s other customers include third-party logistics provider arvato-Bertelsmann and
Conforama, the home furnishings retail chain. Each building is certified as “Very Good” by
BREEAM. The park is 40 kilometres from central Madrid and has two access routes onto the
A2 motorway to Zaragoza and Barcelona.

South Madrid Logistics Park has direct access onto the A-42 highway linking Toledo to
Madrid, 36 km to the north. This project delivered three facilities which provide a total of
66,000 sq.m. of space. Pan-European healthcare supply chain provider Alloga occupies one
BREEAM “Outstanding” rated 21,000 sq.m. building and has just moved into a second
property constructed to the same specification. The park’s first building, delivered in May
2022, is occupied by household appliances and lighting product manufacturer Aigostar.

Isaac Núñez, Delin’s Managing Director for Spain, said: “The sale of our first two parks is
far from the end of our journey in Spain as we have our ongoing Coslada project. We’re on
the hunt to acquire more value-add and development opportunities where we can bring our
expertise to bear and replicate our successes in Alcala and Illescas. We’re looking in the
Madrid region and beyond to other key locations, such as Barcelona and Valencia.”
Knight Frank was Delin’s agent for the sale of the two assets, while CMS acted as its legal
counsel. EY provided Delin with tax advice and Artelia gave it technical expertise during the
sale process.

Ends

Notes to Editors:

About Delin Property

Delin is a fully integrated specialist in European logistics active today in the UK,
Netherlands and Spain. The Company currently owns and or operates 645,000 square metres
of distribution space across the three markets. For more than a decade the company has been
developing, leasing and managing logistics properties for its own investment or acting for
third party investors, including its Dutch Logistics Fund and Blackstone funds. The
company has ambitious plans to grow its platform through logistics real estate funds, offering
institutional investors access to an attractive asset class in which it has deep expertise. To
find out more about Delin Property, please visit our website https://www.delinproperty.com/

Media contact

Simon Packard
simon.packard@headlionconsulting.com
phone: +44 7701 089844