The asset has more than 43.387 sqm spread across 6 office and industrial units and is located within the Henares Corridor, next to Madrid’s Barajas Airport. Omar Thowfeek, Hines Global’s executive director, stated that within the company «we are very happy with this operation, which provides us access to an excellent location in Madrid and with a great potential for improvement».
For Hines «the facilities offer the potential to become a high level urban logistic centre due to its strategic location next to Madrid’s airport», reported El Economista this Monday.
The asset’s returns are guaranteed since as part of the same operation Airbus committed to occupying the location for a further 6 years. DLA and Knight Frank advised Hines and BNP Paribas acted on behalf of the seller.
This transaction, which took place during the pandemic, represents for Hines, its «permanent commitment towards the Spanish market», where it has been operating for 25 years. Omar Thowfekk goes even further by remarking that Hines «continues to believe in the long-term growth possibilities of urban logistics in the main European cities, and this opportunity is in line with our wish to develop this strategy».
One of the latest operations to be carried out by Hines was the acquisition of the Valdebebas 125 multifamily complex in March for 110 million euro from Spanish Acciona.
