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Jaba places office building in Madrid for sale
06 May 2019 | Vanessa Sousa

Young REIT Jaba I Inversiones Inmobiliarias placed an office building for sale in the Spanish capital. It is located at number 125 Arturo Soria street, and it has a total area of 5.626 sqm.

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Despite the fact that there are several proposals on the table for its acquisition, the amount for which the asset is estimated at was not disclosed. But it is known that its future owner may use the current 3.850 sqm leasable surface and the 148 parking spots available for other purposes. According to Eje Prime, the office building might become the home of several families. This means there is the possibility of changing the building’s typology so as to be used for residential purposes.

Currently, this building is leased to Jefatura Provincial de Tráfico. With this operation, which should be closed soon, there will be the need to find a new tenant willing to pay around 118.333 euro per month.

Currently, REIT Jaba – which was created in 2014 – has a 6 office building portfolio, divided between Madrid and Barcelona estimated at 56 million euro and, according to the same newspaper, has a profitability higher than 7%.