• Transaction / Assets
  • Seller
  • Buyer
  • € MM

Hispania Acquires 90% of ONCE´s Real Estate Servicer

9/07/2014 – Europa Press

Hispania Activos Inmobiliarios has purchased a 90% holding in Oncisa, the real estate firm of ONCE and its Fundación, for €80.2 million.

The operation is realized through the capital enlargement and allows Hispania to take control over the property manager administering 46.416 square meter of office space.

Oncisa´s assets are distributed among 9 properties valued at €120.4 million, debt included, out of which eight are found in Madrid and one in Malaga.

The agreement has been sealed inside a wider cooperation plan assuming that the Azora Group and Fundacion ONCE would support socio-laboral projects for disabled people.

All the property packed in the portfolio is “of great quality” and situated “in excellent locations”. The eight are located in highly consolidated areas of Madrid, close to the M-30 ring road, while the building in Malaga stands adjacently to the historic downtown of Malaga.

Earlier in May, Hispania bought two floors in the Murano building, the rest of which belongs to Oncisa, from a third party seller for €4.4 million.

Both parties share a common social interest and they see advantages flowing from the cooperation, such as reinforcement of entrepreneur areas. The alliance will prolong for the next years and one of the targets is the creation of at least 75 jobs for disabled persons.

Together with this transaction, since its listing Hispania invested the total of €205.7 million, out of which amount €120.35 million correspond to offices, €63.8 million to a 213-dwelling complex in the Parque Diagonal del Mar in Barcelona and €21.5 million to the Hotel Guadalmina in Marbella.

 

Original article: Europa Press

Translation: AURA REE

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