9 July 2019 – Richard D. K. Turner
Árima Real Estate has signed long-term financing agreements with CaixaBank and BBVA for a total amount of 63.8 million euros, using the funds to finalise its acquisition of Sonae Spain’s headquarters in Madrid. The socimi reported that the financing arrangements have flexible conditions and competitive interest rates.
The asset that Árima acquired is in the region of Avenida de América-Torrelaguna in Madrid. The building has a gross leasable area (GLA) of 6,759 square meters, along with 110 parking spaces.
Árima’s total investments since its stock market debut six months ago have now reached 173 million euros. The socimi currently has more than 61,000 square meters of GLA. Of that, 89.3% corresponds to office buildings and the remaining 10.7% is in the logistics segment, all in Madrid.
Original Story: El Economista / Europa Press