Transaction / AssetsZambal Socimi Acquires Edifício Novus in Madrid SellerAXA Im Real Estate BuyerZambal € MM90
Zambal Socimi Acquires Everis’s Headquarters in Madrid
1 October 2018
Zambal, a socimi managed by the IBA Capital Partner fund, has acquired the Novus Building, the headquarters of Everis, located at 1 Fuente de la Mora (Madrid) for 90 million euros from funds controlled by AXA Im Real Estate.
Market sources explained to Expansión that the price of the transaction, in which the company that owns the property was sold, includes the debt associated with it.
The building, last renovated in 2017, is occupied by Everis NTT Data Company, which occupies 88% of the gross leasable area. In addition to the consultancy, other tenants include Hilti and Eurest.
Novus is located in Manoteras, one of Madrid’s business centres, near the headquarters of Iberdrola, La Caixa and BMW. Overall, the Novus Building has a gross leasable area of 42,945 square meters, divided into five floors of offices, storage areas and common gardens.
The property also has four courtyards and 561 parking spaces. The consultancy Cushman & Wakefield, which had already advised Everis in its leasing operation, and EY Abogados provided services for the seller, while the law firm Garrigues and PwC, the buyer’s financial and tax advisor, advised Zambal.
With this transaction, Zambal has strengthened its asset portfolio. The socimi bought two office buildings at the end last year. One is located at 25 Albarracín Street, in the area of Julián Camarillo, in Madrid. The complex is currently leased to the French multinational Atos for about 38 million euros.
The company also acquired an office building located at 77 Avenida de San Luis from Naturgy (formerly Gas Natural) for about €120 million. The gas company is still a tenant. Zambal, created in 2013, debuted on the Alternative Stock Market (MAB) in 2015 and currently has a market capitalisation of 667 million euros.
Original Story: Expansión – Rebeca Arroyo
Translation: Richard Turner