Azora has closed a long-term lease agreement for its property, the ML28 Madrid Urban Hub, with UNIE Universidad. This space will be used as the university's second urban campus in the Madrid region. The campus, with a surface area of more than 25,000 square metres, will have the capacity to accommodate more than 5,000 students and is scheduled to open in 2026.
UNIE Universidad already operates in Madrid, specifically in the business and cultural enclave of Arapiles and on the Tres Cantos university campus. It is part of Planeta Formación y Universidades, the higher education network of Grupo Planeta, which includes 22 educational institutions in various countries and serves more than 135,000 students of more than 100 nationalities each year.
The ML28, located near the Cuatro Torres in Madrid, is part of an urban transformation project carried out by Azora, preserving the original 1980s design created by Alejandro de La Sota, but adapted to today's needs. The complex, which includes a 4-storey main building and a separate two-storey building, spans more than 16,500 square metres. It is also LEED Platinum certified, and is surrounded by more than 9,000 sqm of green areas that will make up a 25,000 sqm university campus.
The location of ML28 is strategic, close to important developments such as Madrid Nuevo Norte. The campus is designed for educational, technological and Life Sciences activities, sectors that are experiencing significant growth. Its facilities include a library, auditorium, laboratories, and collaborative work spaces, among others.
CBRE has advised Azora on the commercialisation of the campus. Javier Rodríguez Heredia, Managing Partner of Azora's real estate practice, comments: "Azora has been working on the transformation of high potential assets for 20 years. ML28 is a reflection of our efforts to regenerate and transform urban spaces, meeting high ESG standards and offering functionality and comfort to its users".
Jose Mittelbrum, Senior Director Advisory & Transaction Offices at CBRE, said: "Madrid continues to expand and welcome outstanding projects such as ML28, which contribute to the development of the Life Sciences ecosystem".
ML28 is part of the portfolio of Azora's European multi-strategy vehicle, launched in 2023 with a capital of €270 million and an investment capacity of €500 million. This fund seeks to invest in the real estate sector in southern Europe and has already completed 75% of its investment.
