18 December 2017 – KCRE Press Release
Kefren Capital Real Estate (KCRE) has closed the acquisition of an office building located on Calle Juan de Mariana, 15 (Madrid). The property was Grupo Segur Iberica’s headquarters until the company filed for insolvency during the summer. PwC, the receiver administering the liquidation proceedings, awarded the asset to Kefren Capital, as the winner of a competitive bid process.
The building was completed in 1994 and comprises c. 3,600 m2 above ground, spread over 5 floors, and more than 2,000 m2 below ground, including 39 parking spaces. “The building is very flexible – it would be ideal as the headquarters for: a company wanting a central location at a competitive rent; a co-working office in the south of Madrid, very close to the high-speed train; or as a mixed-use building offering the possibility of servicing last-mile logistics thanks to a loading dock at street level” states Pelayo Primo de Rivera, CEO of KCRE.
It is located in the Méndez Álvaro-Delicias district, a consolidated business area home to large companies such as Repsol, Amazon, Gas Natural, Ericsson, CLH and Mahou, with excellent public transport and road connections. The building is just a 15-minute walk from Atocha train station and Parque del Retiro (to the north), and a 5-minute drive to the M-30 ring road (to the south).
Over the last 10-15 years, Méndez Álvaro has benefited greatly from the general gentrification of Madrid’s southern neighbourhoods and the comprehensive supply of services that new office and residential developments have brought with them.
KCRE has been advised by Araoz y Rueda on legal matters and Mace on the technical side. The c/Juan de Mariana 15 office building is the 4th successful value-added transaction that Kefren Capital Real Estate has completed in 2017.
Kefren Capital Real Estate
KCRE is a real estate asset management company created in 2012 by the investment firm Kefren Capital. KCRE offers investors the full range of services required for real estate transactions: sourcing, analysis, financing structuring, deal negotiation and asset management. What differentiates KCRE from other platforms is its ability to co-invest and its investment philosophy – assets are managed from the perspective of the owner and not simply as a third-party manager.
Original story: KCRE Press Release (by Pelayo Primo de Rivera)
Translation: Carmel Drake