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Axiare Buys Office Building In Madrid For €41.5M

24 January 2017 – Idealista

Axiare Patrimonio has completed its first purchase of the year: an office building, which is leased out to the Peugeot Citroën Group in Madrid, for €41.5 million. The automobile firm will continue as the tenant of the building until 2026. Axiare’s portfolio of properties is valued at more than €1,300 million.

This office building, which was completed in 2011, is located in Las Tablas, Madrid, close to properties such as the headquarters of BBVA, Telefónica, Philips and Renault. The building has a gross leasable area (GLA) of 9,280 m2 and 306 internal and 64 external parking spaces. It also has access to the A-1 motorway and links to the M-30 and M-40 ring roads.

For the operation, Axiare Patrimonio received legal advice from EY, technical advice from CBRE, and commercial advice from Cushman & Wakefield and CBRE.

Original story: Idealista

Translation: Carmel Drake

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