Investec GLL Global Special Opportunities Real Estate Fund, a fund jointly managed by GLL Real Estate Partners and Investec Bank, is to buy two logistics warehouses in Spain.

The fund has secured a €13 facility from pbb Deutsche Pfandbriefbank to buy the Toledo warehouses at G.Park Ontigola from Gazeley.

The recently developed properties comprise 590,000 sq ft and are fully let to CEVA.

Bernhard Scholz, member of the management board at pbb, said: “Overall, the Spanish commercial real estate market offers interesting opportunities when a selective approach is used and we will continue to finance quality assets on such a basis.”