The transaction value was undisclosed.
The largest building is the corporate headquarters of Duro Felguera in Madrid, which is located at Via de los Poblados 7, in the consolidated Campo de las Naciones Business Park. The freestanding office building comprises an area of almost 14,000 m² GLA, set on five floors, as well as two basements with 228 car parking spaces. Duro Felguera has entered into a new lease over part of this building.
The Campo de las Naciones office market is considered to be one of Madrid’s most established and attractive office markets outside the CBD, strategically located midway between the Barajas airport and the CBD and near Madrid’s exhibition centre. The building benefits from both high visibility from the main ring road (M-40) and large open plan floor plates.
The second asset is a vacant office building located at Calle Jacinto Benavente 4 in the Las Rozas Business Park, a consolidated office area in the in northwest of Madrid in which well-known multinationals such as HP, Bankia, Oracle, Día, Santander, Adidas ING and Triodos, among others, are located. This building comprises an area of 2,600 m² GLA, set on three floors and 133 car parking places.
«This has been one of the most complex transactions in which Optimus has successfully advised. The difficulty lay in finding the fine balance between the financial and office space needs of Duro Felguera in the scope of its global refinancing program and the investment requirements of Signal Capital Partners. It allows Duro Felguera to divest its nonstrategic assets and at the same time helps Signal meet its risk-adjusted return targets», Kris Van Lancker, Managing Director at Optimus Global Investors, commented.
The Edifício Entreposto, an office building in Lisbon, was sold to Signal Capital for 65.5 million euros. Square AM acted locally as an operational partner of the buyer.