MILEPRO, A VEHICLE MANAGED BY AZORA, CLOSES THE SALE OF TWO LOGISTICS ASSETS IN MADRID AND BARCELONA FOR €42.7M

MILEPRO, A VEHICLE MANAGED BY AZORA, CLOSES THE SALE OF TWO LOGISTICS ASSETS IN MADRID AND BARCELONA FOR €42.7M

• The transaction, aligned with the vehicle's business plan, allows the generated value tobe realized and confirms the quality and liquidity of Milepro's portfolio.

• Azora is highly active in both identifying and executing new investment opportunities in the logistics sector, with a focus on the main markets of Southern Europe

Milepro Logística Última Milla SOCIMI, S.A., a vehicle specialized in logistic assets managed by Azora and established together with Indosuez Wealth Management, has closed the sale of two logistic warehouses located in Villaverde (Madrid) and Gélida (Barcelona) for a total amount of 42.7 million euros.

The transaction, carried out in a market environment marked by increased uncertainty and a more demanding investment landscape, reflects the quality, resilience and liquidity of Milepro’s portfolio. It enables the crystallization of value in two assets located in the established logistics markets of Madrid and Barcelona, leased to top-tier logistic operators and supported by strong operational fundamentals.

The divestment of these two assets is part of Milepro’s selective rotation strategy. The company will continue managing the rest of its portfolio with the aim of maximizing value for its shareholders. The sale process was coordinated by Savills and involved both domestic and international institutional investors. The presence of several formal offers in line with the assets’ valuations confirms investor interest in high-quality, well-located, and stabilized logistics product, even in a more demanding investment market.

MilePro, established in 2021 by Azora and Indosuez Wealth Management and listed on BME Growth since 2023, has successfully completed its investment plan, building a portfolio of high-quality logistics assets in terms of location, construction standards, and tenant strength. Following its initial investment and portfolio consolidation phase, MilePro is now in a management stage focused on maximizing value creation and returns for its shareholders.

At the same time, Azora remains highly active in both identifying and executing new investment opportunities in the logistics sector, with a focus on the main markets of Southern Europe. The firm has a significant presence in the logistics segment, with nearly €800 million in assets under management across Spain and the United States. In Spain, it manages close to 300,000 square meters of logistics assets.

As Javier Picón, Senior Partner at Azora, notes: “This transaction represents a significant milestone in the execution of Milepro’s business plan. The sale of Gélida and Villaverde allows part of the value created since the vehicle’s inception to be realized, in line with the planned strategy, and confirms the quality of a portfolio built on assets with strong fundamentals.”