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Log sells warehouses to raise R$ 500 million and reinvest in the business
- The objective is to raise around R$ 500 million per year with the sale of warehouses that are already in operation.
By: SiiLA News
06/01/2021 Log Commercial Properties, a logistics warehouse company whose partners are the Menin family, the Starwood manager and a fund managed by Bradesco, have decided to speed up the sale of its assets. The objective is to raise around R$ 500 million per year with the sale of warehouses that are already in operation. The resources will reinforce the cash flow and allow for the construction of more projects of the same type. The company has seen a growing demand for properties that work as storage and distribution centres for goods across the country with the boom of e-commerce.
On Monday, 31, Log has already agreed on the sale of a 77 thousand square metres warehouse in Extrema (MG) for R$ 272.7 million. The site houses the operations of retailer Dafiti. Currently, 57,000 square metres are already in operation, while another 20,000 square metres are under construction and will be delivered in September. The buyer was the Real Estate Investment Fund BM II, by BlueMacaw, manager of the executive Marcelo Fedak (formerly Blackstone).
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