The developer Hispavima has finalized the divestment of its Project Key portfolio in the Spanish market by selling its last logistics warehouse located in Seville, specifically in the Megapark industrial estate in Dos Hermanas. The buyer is the Luxembourg-based sicav Unik Capital.
The property, comprising 5,403 square meters of gross leasable area and 485 square meters of offices, is leased long-term to Conway, an operator specializing in distribution for hospitality and convenience. Conway has occupied the facility since its commissioning, ensuring recurring income from the delivery of the turnkey project developed by Hispavima.
The warehouse, featuring a 32-meter maneuvering yard and 14 meters of free height, is designed for capillary distribution and includes triple temperature control (ambient, positive cold, and negative cold), allowing for the management of refrigerated and frozen products in a single operational center. This design aligns with a specialized logistics model to meet the demand from the HORECA channel and convenience stores.
The asset holds Breeam Very Good certification and a 500-kilowatt rooftop photovoltaic installation, meeting the ESG standards required by institutional capital regarding energy efficiency and sustainability. The energy system covers a significant portion of the consumption, and the design incorporates high-capacity storage to enhance last-mile delivery efficiency.
This transaction is part of Hispavima's business model: development, leasing, and sale of stabilized assets to institutional investors. Unik Capital acquires an asset with an existing lease agreement and a recurring income stream, benefiting from its location in one of the main logistics hubs in the southern Iberian Peninsula, home to companies such as Amazon, Arnedo, Steff, and Dia.
The deal reflects international capital's interest in logistics assets in regional markets with solid fundamentals, consolidating Seville as a key distribution hub for the HORECA channel. The process was advised by JLL on marketing, C&M for the buyer, and Cuatrecasas and Hogan Lovells alongside Almar Consulting for the investor.
