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AEW Purchases An Office Building In Madrid For €26M

23 February 2016 – Expansión

The real estate management company AEW Europe has acquired an office building in Madrid for around €26 million. The property is located at number 240 on Calle Serrano and was owned until now by a private investor.

The building has a surface area of 7,550 m2 and an occupancy rate of 83%, according to the consultancy firm Savills, which has advised the purchaser. The property has seven floors and contains several commercial outlets, as well as an underground car park with 70 parking spaces, a restaurant and gym.

AEW Europe intends to renovate the offices and restaurant area and incorporate new facilities. The group, which is a subsidiary of Natixis, held assets under management amounting to €18,200 million at the end of September 2015. AEW Europe employs 280 people and has nine offices throughout Europe.

Original story: Expansión

Translation: Carmel Drake

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