The project consists of developing an office building in the terrain where the former La Moraleja Hotel was located, and which was demolished. The state-of-the-art building will be named Edificio Abril and is located in one of Madrid’s most exclusive areas.
Abril has a sustainable and integrated design. The project will be developed in a parcel of approximately 11.000 sqm, where a building with 42.000 sqm open floors will be constructed. This extensive area will allow for a particularly unique development, where the light and green areas will play the central roles.
Renowned architectural office Rafael de La-Hoz is responsible for designing this modern building, which will feature very bright spaces and wide terraces. The terrain’s large extension will allow for a landscaping project which will feature large open-air gardens, where the building’s users will find common areas.
Abril will be designed following the strictest quality and innovation standards. On one hand, it will be certified as a sustainable building by Leed which addresses the environmental sustainability. On the other hand, it will also be certified by Well, which focuses on the visitor’s well-being.
The building’s location is a plus for this project, because it is located in of the most important business areas in Madrid. It also has great connections to the main accesses and public transport.
Construction for this new office building is expected to be finished after the Summer of 2020. This operation was carried out through ASOREF, Arcano Partners’ first real estate fund, with whom were signed investments above 125 million euro. The group expects the second real estate fund, Arcano Value Added Real Estate II (AVA II) to reach a volume of 200 million euro. AVA II is currently at the fundraising stage and has amongst its latest operations the purchase of Agencia EFE’s historic headquarters, at Espronceda 32, where it luxury houses will be built.
With this project, Arcano bets once more in exclusive assets located in the main cities, in order to offer investors added value through operations which offer attractive yields.
Press Released by Arcano