10 July 2019 – Richard D. K. Turner
The U.S.-fund Starwood Capital is negotiating the possible acquisition of the Las Mercedes business park at Calle Campezo, 1, across from Madrid’s Barajas airport.
The 9-building office park belongs to GreenOak, which acquired the asset from Standard Life Investments for approximately 140 million euros just three years ago.
Las Mercedes has a total surface area of 79,000 square meters and the nine-building complex surrounds a garden area with courtyards and fountains. Occupancy currently stands at 84%, and existing tenants include Altran, Xerox and Enaire, with retail stores and food services.
According to market sources, Starwood has offered more than 200 million euros for the asset and is considered the likely winner of the sale.
Original Story: Expansion – Rebeca Arroyo