IBA will invest €45M in Nodo building

IBA will invest €45M in Nodo building

Nodo office building in Madrid

The international management company IBA Capital Partners is finalizing the reform of the Node office building, with the execution of the renovation works of its facade, after an interior adaptation by the AXIS Arquitectura studio. The total amount of the investment, until the completion of the repositioning of the building, is estimated at 45 million euros.

The property, located at 29 Trespaderne Street in Madrid, next to Barajas airport, has a gross leasable area of 29,173 sqm and is rented to, among others, SGS or Vodafone, which have recently renewed their long-term contracts. The current occupancy of the building is around 80%.

After the renovation of the facade, the parking lot and technical facilities, which will be undertaken during the first half of this year, it is estimated that the building will be completely renovated and repositioned in June.

The real estate consultants Catella and AXIS Property are responsible for the commercialization of the space available in the property, which stands out for its strategic location just 3 minutes from Adolfo Suárez Madrid Barajas Airport. Cushman & Wakefield is responsible for property management.

IBA Capital was founded and is managed by Thierry Julienne (ex Auguste Thouard) and Jesús Valderrama. The firm owns a multitude of corporate headquarters such as the Vodafone Building, located at 115 Avenida de América, as well as the Manoteras leisure park, also located in the capital, or this property. And according to the newspaper Expansíon, IBA Capital, together with Angelo Gordon, bought this building (Nodo) from GMP in March 2019 for 37.5 million euros.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!