Atrea Real Estate, the new vehicle launched by Luis López de Herrera-Oria, has completed the acquisition of Los Cubos office building, in Madrid, from Henderson Park for €91 million, as reported by Expansión.
Rivoli AM, CBRE, Cushman & Wakefield, Ashurst and Deloitte have advised Henderson Park, while Ecija, EY and PwC have advised Atrea Real Estate.
Located at the junction of the M-30 and the A-2, the complex has a floor area of 19,600 sqm spread over nine floors. It currently has an occupancy rate of 84%, a figure that reflects the asset’s recovery following years of inactivity.
The building was constructed between 1976 and 1981 and stands out for its geometric design, visible from one of the city’s main access points.
Henderson Park acquired Los Cubos in 2017 from Realia for €52 million. At that time, the property had stood empty since 2015 and required a comprehensive refurbishment to adapt to the new demands of the office market. The purchase of this building also marked Henderson Park’s entry into Spain. Since then, the firm has driven a major modernisation of both the façade and the interior spaces to reposition the asset and attract new tenants.
Following the refurbishment, the building achieved LEED Gold sustainability certification. The refurbishment also incorporated new amenities designed to enhance the employee experience. These include over 4,000 sqm of outdoor terraces, a gym, a padel court and the Faborit café.
The purchase of Los Cubos represents the second major transaction recently announced by Atrea Real Estate. The firm is accelerating its entry into the Spanish property sector with investments focused primarily on offices. Earlier this year, Atrea announced a €200 million investment linked to a project developed by Metrovacesa on the site of the former Clesa factory. The plan involves the development of two new office buildings that will become part of the company’s property portfolio once construction is complete.
