31 July 2017 – Eje Prime
UBS Asset Management has acquired a new asset in Spain. Through its Real Estate & Private Markets (REPM) division, the investment arm of the Swiss bank has completed the purchase of the business complex located at number 56 on Calle Ribera del Loira, in the Campo de las Naciones office district, alongside the Ifema exhibition halls. UBS’s real estate fund has disbursed €38.5 million for the asset.
The building acquired by UBS has a surface area of 11,549 m2, divided into two buildings, separated by a central atrium. Moreover, it has more than 300 parking spaces. The complex houses the headquarters of the hotel group Accor and the dental clinic company Dentix.
The Ribera del Loira operation comes just a month after the Swiss bank’s most recent investment in Madrid when UBS Asset Management purchased two logistics assets spanning almost 35,000 m2 located on the PP10 industrial estate in Leganés. It paid just over €35 million for those properties.
The Swiss bank arrived in Spain with its real estate investment arm. Through seven investment funds, UBS owns a portfolio worth €772 million containing mainly offices, which account for around 50% of the portfolio, as well as retail assets (which represent 37% of the total) and logistics properties.
Original story: Eje Prime
Translation: Carmel Drake