The operation is part of the asset rotation strategy Iberdrola Inmobiliaria maintains to streamline its rental portfolio.
For Inovalis, this operation represents its first acquisition in Spain and contributes to the diversification of its portfolio, both geographically and in terms of asset type.
The building, located at Parque Tecnológico de Andalucía (PTA), has a total 12.000 sqm and 297 parking spots. The Málaga Business Park was built in 2003 and is currently fully leased.
CBRE advised Iberdrola Inmobiliaria in this operation and Variant Real Estate Partners advised Inovalis.