Principal AM bolsters Spanish logistics portfolio

Principal Asset Management has signed a sale-and-leaseback agreement in Seville for its European logistics and industrial fund, Log In, managed by Theoreim.

LogIn Seville

The acquired asset is a modern, fully-equipped 12,316 m2 warehouse with cold storage and office space, serving as the main operational hub for a family-owned Andalusian agricultural company under a long-term lease. This acquisition reinforces Log In's presence in Spain and its strategy of investing in high-quality logistics assets with diversified tenants in strong markets.
Strategically located near Seville's Majaravique multimodal logistics hub, the 2022-built property offers excellent access to major transport links, including the Port of Seville, San Pablo Airport, and the A-4 motorway. It boasts Eco20-certified photovoltaic panels for electricity generation and sustainable water management systems. Log In plans further enhancements to optimise its environmental performance in line with its ESG strategy. This debt-free transaction marks Log In's eighteenth acquisition.
Guillaume Masset, head of transactions and asset management for Europe at Principal Asset Management, said: “This fourth acquisition in Spain fully aligns with the development of Log In’s pan-European portfolio through high-quality logistics and industrial assets. This transaction provides LOG IN with a recently developed logistics asset, ideally located near Seville and leased to a regional operator under long-term leases”.
Romain Welsch, president of Theoreim, added: “After strengthening our presence in several European countries in 2025 (Ireland, Italy, Poland, and the United Kingdom), this acquisition in Andalusia represents a new stage in Log In’s development in Spain. It allows us to gain exposure to the agricultural sector and to diversify our income streams by investing in assets linked to essential uses and addressing primary needs of the population”. 
Log In, established in 2022 in collaboration with French alternative investment management company Theoreim, is France's first SCPI (Société Civile de Placement Immobilier) focused on European logistics. Principal Asset Management, operating across eight European offices, acts as the fund's investment and asset manager. LOG IN aims to expand its holdings in the industrial, logistics, data centre, and life sciences sectors, targeting asset acquisitions between €5 mln and €25 mln, adding to its existing portfolio of 16 assets in the UK, Spain, Italy, Ireland, and Germany.