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Spain’s Cilsa Approves €37.3 Million Capital Hike

Spain’s Cilsa approves €37.3 million capital hike

Spain’s Cilsa Approves €37.3 Million Capital Hike

Barcelona, Spain (PortSEurope) December 28, 2017 – Spanish real estate company Cilsa has approved a €37.3 million ($44.5 million) capital hike to be subscribed by real estate investment trust Merlin Properties to finance the expansion of the logistics zone of Barcelona port (Zona de Actividades Logísticas – ZAL).

The capital hike is in line with the expansion project presenced by Cilsa at the beginning of 2017 to build some 320,000 square metres of new logistics space with a Leadership in Energy & Environmental Design (LEED) certificate.

The financing obtained from the capital increase will be used by Cilsa to repay a loan extended by the company’s shareholders to acquire a 51,988 square metres of logistics area from former company Banif Inmobiliario.

Source: Diario del Puerto

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