Iroko, a French real estate investment company, has acquired the property of the building that houses an educational centre in Fuenlabrada. The transaction, carried out under a sale & leaseback scheme, has implied that the educational group, previously the owner of the property, has now become a tenant under a long-term lease agreement.
To carry out this transaction, the real estate consultancy BNP Paribas Real Estate, through its company IREMCAP, has advised Iroko in Spain. On the other hand, the selling side received financial and legal advice from Norgestion, while the buying side was supported by Rubio&Laporta Asociados.
The school has a surface area of more than 8,000 square metres, of which 4,200 square metres are built, allowing it to house more than 700 students. Located in Fuenlabrada, Madrid, this educational centre is widely recognised for its outstanding educational model, the incorporation of the latest technologies and its focus on creativity and entrepreneurship.
"With this transaction, BNPPRE's living area maintains our activity in the strategic education sector. This is a segment that is increasingly in demand by investors, who are looking for real estate assets that cover alternative uses to the traditional ones, and with an anti-cyclical component," explains Joan Duran, national director of Hotels and Alternatives at BNP Paribas Real Estate.
