The 4.000 sqm building currently hosts TargoBank’s headquarters, and will now be fully reconverted in order to reposition it and classify it as Class A, increasing its value.
GreenOak has already acquired 150.000 sqm in office spaces in Spain during the last 6 years, spreadout through 20 buildings, 17 of which in Madrid and three in Barcelona.
John Carrafiell, founding partner at GreenOak, explains, quoted by El Economista, that the managing company keeps seeing Madrid as «an exceptional opportunity to invest in offices, since it is in the middle of a solid economic growth and that rental prices are still well below the market peaks». He further stresses «the tenants’ robust demand», which accelerated the funds’ asset contracting.
Photo: El Economista