Lone Star proceeds with their strategy of divestment in Spain

Continuing their strategy of disposing of office assets in Spain, the North American fund Lone Star has just placed the business park Isla de Chamartín1, in the north of Madrid, on the market.

Situated at nº20 Avenida de Manoteras, the office enterprise comprises four buildings, each with an area of more than 9.000 m², a total area of 38,140 m², and for which the fund hopes to get over 110 million euros. The last buildings were completed in 2008, with Lone Star acquiring the park in 2015 after executing the mortgages of Bami Newco. Iberdrola Engineering and Construction, BBVA Consultants and Aernnova Engineering Solutions Iberia are among the tenants.

It can be recalled that, at the end of last year, the fund sold another Spanish business park, the Adequa, for 380 million euros.