Tikehau Capital, the alternative fund manager, announces the acquisition through its Core Real Estate fund of a residential asset located in the centre of Madrid, refurbished and owned to date by Urbania.
The residential building located in Calle Fray Luis de León, very close to the Méndez Álvaro office area and the tourist centre of Madrid, had been fully refurbished by Urbania. The asset consists of 3,000 sqm distributed in 45 flats and two commercial premises on the ground floor.
The transaction includes a long-term lease agreement with an international residential operator with a strong technological focus, track record and experience in the sector and currently present in several major European cities.
The acquisition represents Tikehau Capital's first investment in the core segment in Spain. Tikehau Capital has a significant presence in the real estate market in Spain and Portugal, having completed a number of three acquisitions including a core+ office portfolio in Madrid and Barcelona acquired in 2019, an additional office building in Barcelona in 2021 to complement this portfolio, and a 3,600-unit value-add residential portfolio across Portugal acquired in 2022.
Carmen Alonso, Head of Iberia and UK at Tikehau Capital, highlights that this new investment in Spain, "represents the addition of an asset of excellent quality to our current portfolio and, above all, demonstrates Tikehau Capital's commitment to developing a diversified investment portfolio across different asset classes within our Core, Core+ and Value-Add strategies in the Iberian real estate market".
