Veracruz Properties, a Spanish REIT listed on BME Growth, has acquired the NOBO office complex on Carretera de Ocaña in Alicante from Metromedia Inversiones, a company linked to the Palacio family. The price has not been disclosed. The deal is the socimi’s first office investment in the province and raises the value of its property portfolio to around €245 million.
The building has 19,500 sqm above ground over three floors and a rooftop, plus a further 10,800 sqm of basement space used for parking and a workshop. It has capacity for up to 2,000 workstations, with office floors that can be adapted for teams of 200 to 400 people. The complex was refurbished by architecture practice Crystalzoo and holds a BREEAM certification.
NOBO also has retail units, multi-purpose rooms, an auditorium, a gym, a café and around 300 parking spaces, as well as electric vehicle charging points and a landscaped central courtyard. A further 1,500 sqm on the rooftop is set aside for corporate events.
The building is currently around 90% occupied. Tenants include Norwegian technology company Kongsberg Maritime, Alicante-based Pavigym, the Universidad Europea, which uses the space for specialist dentistry training, Intramuros Design Studio and Alicante’s Porsche dealership.
Salvador Fondeur, CEO of Veracruz Properties, noted that Alicante was among the socimi’s target markets because of its economic and business growth. According to company data, the province’s GDP has grown by 22.1% over the past five years, while the number of new domestic and foreign companies has risen by 40.8% over the same period. Fondeur added that the acquisition fits the strategy of adding assets in growth markets and diversifying the portfolio.
In the Valencia region, Veracruz Properties also owns a 1,000 sqm office building on Calle Colón in Valencia, two buildings totalling 18,000 sqm in the Táctica business park in Paterna, the Plaza Mayor shopping centres in Gandía and Xàtiva, and three care homes. Elsewhere, it owns the AMURA office building of more than 18,100 sqm in Alcobendas, Madrid, recently acquired through a subsidiary, as well as the Parla Natura retail park, and holds a majority stake in the El Arcángel shopping centre in Córdoba.
Olazabal y Asociados advised Veracruz Properties on the deal, while CBRE represented Metromedia Inversiones.
