UK’s Gramercy buys three warehouses in Spain for $36.6 million

London-based real estate investment firm Gramercy Europe Ltd., on behalf of Gramercy Property Europe III, has bought three warehouses in Catalonia, Spain in two separate deals, for 32.25 million euros ($36.6 million).

The firm bought two logistics facilities in Constanti, south of Barcelona for $25.8 million. The first property totals 24,032 square meters and is fully let to Spanish plastic polymers and resins distribution company Chemiprats.

The second property totals 25,930 square meters and is fully let to U.S. information technology company Ingram Micro. In addition, Gramercy purchased an institutional quality, 20,120 square feet warehouse in La Bisbal del Penedès, also in the south of Barcelona, for $10.7 million.

The company said that the 3 purchases are in line with its strategy of identifying and buying tenant critical assets in Western Europe.