Amundi buys two office buildings under development in Madrid

Amundi buys two office buildings under development in Madrid

Alcalá 544 y 546 Buildings, Madrid

Designed by architecture firm Fenwick Iribarren, buildings “Alcalá 544 y 546” have under development 10.000 sqm and 20.000 sqm areas for rental respectively, spread across 6 floors and surrounded by gardens and terraces. Both buildings will be certified LEED B+C Platinum.

Alcalá 546 should open its doors during the fourth quarter of 2022 and is already leased to a «leading company within the cosmetic industry», which signed a long-term leasing deal. The conclusion of the whole real estate project is expected for the first quarter of 2023.

Jean-Marc Coly, Executive Managing Director at Amundi Real Estate, remarked that: «We are delighted with the consolidation of our presence in Spain through the acquisition of “Alcalá 544 y 546” following our first acquisition in 2018 of building Pórtico in Madrid and a second purchase in 2019 with SA65 in Barcelona. This new transaction is perfectly in line with our strategy to invest in Core/Core+ assets and symbolizes the development opportunities the international real estate market offers».

Amundi Real Estate had the legal advice of DLA Piper, the technical advice of Mace and was advised on the entire operation by L’Etoile Properties Ibérica.

BNP Paribas Real Estate Development and Therus Invest had the commercial advice of BNP Paribas Real Estate and the legal advice of the Pérez Llorca law firm

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