According to EjePrime this asset was part of Lar España’ portfolio since 2014. With this transaction the company follow its acquisition strategy, value added and subsequent divestment.
The building has 9 floors and 8,663m² of offices, as well as basement parking. It is 100% occupied.
José Luis del Valle, President of Lar España, says that «it’s important this first divestment, that meets the plan of the company: acquire attractive properties, increase its value due to a good management and, once the business plan created at the time of the purchase is implemented, raise the possibility of divestment to continue investing in strategic assets that maximize the value to our shareholders», refers the same source.
To Pere Viñolas, consultant at Colonial, this acquisition is framed within the strategy of acquire assets in the three markets where the company is present, which continue to express “its inertial growth and good behavior regarding transformation policies and repositioning of assets”. “This building has shown its capacity to growth and its characteristics allow us to perform our policy of Value Added in response to new services and value added elements, which the increasing demand for quality offices in Madrid needs”, says Pere Viñolas.
The transaction was closed off the market, advised by Aguirre Newman.
Colonial has begun the construction of a new office building, in district 22@ in Barcelona, investing a total of 77 million euros. The Schibsted group will be the main tenant.
Lar España Real Estate SOCIMI registered an income of 46.6 million euros in the first nine months of this year, an increase of 77% over the same period the previous year.
Blackstone will transfer 21,000 homes to several Socimis, to rent.
Up to October 2017, have been invested €1,500 million in commercial real estate in Portugal, surpassing by 15% the €1,300 million transacted throughout the year 2016.
RICS (Royal Institution of Chartered Surveyors) in partnership with Iberian Property have just launched the first edition of the new Iberian Commercial Property Monitor, an unprecedented initiat...