28/07/2014 – Press Release by Hispania Activos Inmobiliarios
Hispania Activos Inmobiliarios, S.A. (Hispania), through its subsidiary Hispania Real SOCIMI, S.A.U., has acquired from IDL Group a portfolio consisting of four office buildings and two hotels, all of them located in Madrid.
The transaction has amounted to €42.15 million, fully disbursed with Hispania’s own funds.
The acquired office buildings are located in the surroundings of the A1 highway, in the north of Madrid, and have a gross leasable area of 14,547 square metres, plus 387 parking spaces.
All four buildings are of recent construction, have an average occupancy of 71% and are located within consolidated business complexes and areas with ample growth potential. The acquired assets are the Arcis Building and Talos Building -both situated in Las Tablas and nearby the new BBVA headquarters-, a building at Av. Bruselas, in Arroyo de la Vega, and a fourth one situated within the complex Poeta Rafael Morales, in San Sebastián de los Reyes.
Regarding the hotel portfolio, it includes the NH Pacífico, a 3* hotel with 62 rooms in Avda. Ciudad de Barcelona, and NH San Sebastián de los Reyes, a 3* hotel with 99 rooms and located within the Poeta Rafael Morales business complex. Both hotels are currently operated by NH Hoteles under long-term rental contracts.
According to Concha Osácar, Board Member of Hispania, “thanks to this acquisition, Hispania continues consolidating its presence within the office segment by investing in high-quality office buildings in the secondary business centre of Madrid as well as strengthening its hotel portfolio with two hotels operated by the renowned Spanish chain NH Hoteles”.
With this transaction, Hispania has already invested €262.8 million out of the €550 million raised in its IPO on March 14th, and is building a portfolio which already includes a gross leasable area of 84,307 sqm in office space -predominantly in Madrid and Barcelona-, 213 dwellings in Barcelona and 3 hotels, one of them in Marbella and the other two in Madrid.
Hispania is a Spanish company that became listed on the Spanish Stock Exchange on the 14th of March of 2014 raising €550 million. Hispania was created with the objective of capturing investment opportunities in the Spanish Real Estate markets and creating a portfolio of high quality assets in the residential, hotel and offices sectors.
In accordance with best corporate governance international practices, Hispania´s Board of Directors, chaired by Rafael Miranda, has a majority of independent Board Members.
Hispania is externally managed by Azora, which has granted it total exclusivity for all of its investment deal flow in Spain, except for student housing.
Grupo Azora (hereinafter “Azora”) is a leading Spanish independent asset manager, founded in 2004 and with over €3,000 million of assets under management. Azora manages Hispania through its subsidiary Azora Gestión S.G.I.I.C., S.A., a regulated asset management company under the supervision of the Spanish Stock Exchange regulator (CNMV).
Azora’s platform is one of the largest in Spain, with a team close to 300 professionals with extensive experience across the Real Estate value chain, including deal origination, structuring and investment, new developments and repositionings, asset and property management as well as disposal of individual assets or portfolios. Azora is specialized in four assets classes: residential, hotels, offices and student housing. Azora currently manages the largest portfolio of residential properties under rental in Spain, comprising approximately 10,500 units.
Article published by the courtesy of: Hispania Activos Inmobiliarios