5 October 2015 – Cinco Días
The real estate fund manager IBA Capital Partners has purchased Vodafone España’s headquarters in Madrid through its Socimi Iberia Nora, on behalf of Zambal Socimi SA. It has also agreed a long-term rental contract with the telecommunications company.
In a statement on Saturday, IBA Capital said that this operation represents an important addition to the group’s portfolio of real estate assets, valued at €650 million.
Vodafone España’s headquarters are located in a business park comprising five buildings, with a total surface area of 50,000 m2 and 1,500 parking spaces.
IBA Capital Partners, Investment and Asset Manager, which is itself headquartered in Madrid, said that it had been one of the first groups to back the recovery of the real estate sector in Spain in 2013.
The group’s portfolio of assets includes the headquarters of several organisations and corporates including: the Ministry of Foreign Affairs, Unión Editorial, Día, Enagás and BMW in Madrid, as well as the ABC Serrano shopping centre, also located in the Spanish capital.
The managing partners of IBA, Jesús Valderrama and Thierry Julienne, highlighted that their objective is to “continue investing through Zambal, in high quality assets in Madrid and Barcelona and in other high added value assets in Spain’s other major cities”.
Original story: Cinco Días
Translation: Carmel Drake