Mubasher: Roebuck Asset Management, the European subsidiary of GFH Financial Group, has early completed its exit from the Amazon Last Mile Logistics Warehouses portfolio in Spain.

Spanning over an area of around 140,000 square metres, the portfolio comprises three assets leased to Amazon Road transport Spain, according to a recent press release.

Acquired in 2020, the last-mile delivery facilities have enabled the online retailer to promote its logistics network's expansion across Spain.

The portfolio’s exit records an overall return on investment (ROI) of 17%, which comes in line with the company's initial target over a holding period. 

The Managing Partner at Roebuck, Hugh Macdonald-Brown, said: "Leading distributors now rely on well-located, modern facilities as part of their logistics networks. This is an opportunity we have been swift to capitalise on."

The Co-Chief Investment Officer at GFH, Nael Mustafa, commented: "While we still believe in the overall fundamentals of investing in logistics assets, our investment in the Amazon Last Mile Logistics Warehouses Portfolio has delivered the target yield and the capital appreciation desired."

It is noteworthy to mention that in late December 2020, GFH acquired the logistics warehouses, located in southeastern Spain and leased on a long-term basis to Amazon Road Transport, at a value of around $77 million.