- Axiare Patrimonio completes the purchase of an office property under construction for EUR 29.7 million. This prime office property in Madrid will comprise 8,652 lettable sqm, as well as 261 parking spaces.
- With this purchase, the Socimi bolsters its position in the A2 area, one of the city’s most established office areas, strategically located between Madrid’s Barajas airport and the CBD.
- Axiare continues to create a sustainable portfolio. The building will boast LEED Gold certification, awarded by the US Green Building Council.
Axiare Patrimonio acquires another property in line with its strategic business plan and brings the total value of its property portfolio close to EUR 1,750 million. The Socimi led by Luis López de Herrera-Oria has acquired an office property at Calle Josefa Valcárcel, 40 bis in Madrid, which is currently under construction, for EUR 29.7 million. With this purchase, Axiare Patrimonio bolsters its position in the A2 and M30 area, one of the city’s most established office areas, located just 9km from Madrid’s Barajas airport and 8km from its CBD. The property is also just a short distance from other properties owned by Axiare Patrimonio, such as Josefa Valcárcel and Juan Ignacio Luca de Tena, which will allow the company to create important synergies.
The Socimi, the only one regulated by RICS in Spain, has signed an agreement to acquire the said property, that is currently being constructed by Metrovacesa. The building, which is due for completion in Q4 2018, will comprise a gross lettable area (GLA) of 8,652 sqm, arranged over seven floors, with each floor comprising 1,376 sqm, and able to be divided into as many as four modules. The property will also feature 261 parking spaces distributed over two basement floors.
Axiare I+D+i, a subsidiary of Axiare Patrimonio, aimed at applying technological innovation to its properties, will examine the new building, to assess the possibilities of equipping it with state- of-the-art technology especially designed for the real estate sector. These innovations will provide future tenants with a property that is more user-friendly, more practical and more efficient in terms of everyday needs. Axiare Patrimonio ́s active asset management strategy allows it to offer value add properties in the sector which in turn allows it to raise rental levels.
Last week, Axiare Patrimonio unveiled VIRTO, the world’s first cognitive office building with artificial voice-controlled intelligence. The property, located in the Arroyo de la Vega area (Madrid), boasts a virtual assistant that is capable of learning via natural language with the building’s occupiers and incorporates interactive voice and movement control technology, based on the zero interface concept.
The building will also be certified LEED Gold, one of the most prestigious certifications in the real estate sector, awarded by the US Green Building Council.
Luis López de Herrera-Oria, CEO of Axiare Patrimonio, confirmed: “With this acquisition, Axiare Patrimonio reinforces its presence in the A2 and M30 area of Madrid”. He went on to add: “Our company acquires properties based on their quality, location and potential value uplift amongst other criteria, always aiming to ensure a high-quality rental property portfolio that is able to generate attractive returns for our shareholders”.
So far this year, Axiare Patrimonio has invested EUR 245 million in the acquisition seven properties in Madrid and Barcelona. These investments, in line with the company’s strategy, have high value uplift potential that will result in attractive returns for shareholders. The company is also in advanced negotiations on properties valued at circa EUR 170 million.
Axiare Patrimonio’s portfolio has a market value of circa EUR 1,740 million. In line with the business plan announced at its listing in July 2014, offices account for 74% of its portfolio, logistics warehouses 18%, and the remaining 8% other properties, mainly prime retail warehouses.
Source: Press note