IBI Lion Socimi completed the acquisition of Burgos logistics warehouse from ID Logistics Group for €25m.

IBI Lion Socimi, a Spanish REIT investing in income-producing real estate assets, primarily logistics, office, and retail properties, completed the acquisition of Burgos logistics warehouse, a cold storage logistics hub used in food sector distribution, from ID Logistics Group, an international logistics provider offering warehousing, transportation, and supply chain solutions, for €25m. "The financial debt of this subsidiary (which also owns a logistics asset located in Llíria, Valencia) has been refinanced through the early repayment of the existing debt, for an approximate amount of €25m, and the subscription of new financing for an approximate amount of €42m, plus approximately €5m additional to finance the VAT on the transaction, which the company expects to recover and will be repaid at that time," Ibi Lion Statement.