January delivered a solid start to the year for the Madrid region, reinforcing the city’s position as Spain’s most liquid and diversified real estate market. According to Iberian Property estimates, more than €430 million in commercial real estate transactions were completed during the month, with activity spanning offices, hotels, logistics, student housing and data centres. The month combined significant single-asset deals with strategic portfolio moves, setting a constructive tone for 2026.
Office assets once again anchored investment volumes, highlighted by Atrea Real Estate’s €200 million acquisition of the Oria office complex from Metrovacesa. The transaction, covering nearly 48,000 sqm north of the capital, stands as one of the largest office deals closed in Madrid in recent quarters and reflects renewed appetite for scale assets with repositioning and leasing upside. The office segment also saw Vitruvio acquire a 6,000 sqm building on Ramírez Arellano 37 from Colonial for €27 million, reaffirming investor interest in well-located tertiary assets suited to active management strategies.
Alternative assets continued to gain relevance. Hines closed the acquisition of a 300-bed PBSA asset in Móstoles which could represent close to a €50 million investment, consolidating its growing student housing platform in the Iberian Peninsula. In parallel, Besant Capital acquired the iconic NH Collection Suecia hotel for €80 million, underlining sustained interest in Madrid’s prime hospitality segment supported by resilient tourism fundamentals.
Data centres and digital infrastructure also featured prominently. Templus expanded its footprint through the acquisition of multiple data centre assets, including operations linked to AtlasEdge and Grupo Aire, strengthening Madrid’s role as a strategic digital hub within Southern Europe. Logistics activity, while selective, remained active, with Pictet and Freo acquiring a fully leased 16,314 sqm last-mile logistics asset in Leganés, reinforcing investor focus on inner-ring locations with operational resilience.
Beyond closed transactions, January was marked by a growing volume of capital targeting Madrid-based portfolios. Blackstone’s Project Cibeles, comprising around 5,300 rental homes in the Community of Madrid and valued at approximately €1.2 billion, advanced through bidding stages, while Cerberus initiated the sale of Project Gloria, a residential platform of roughly 3,300 homes, the majority located in Madrid. Retail and mixed-use pipelines also gained visibility, including Balkany’s large shopping centre portfolio and several hotel-led processes entering early market phases.
Taken together, January’s activity confirms that Madrid enters 2026 with a robust investment pipeline, deep institutional liquidity and a market increasingly shaped by scale, selectivity and alternative asset classes — a dynamic that is likely to define the year ahead.
Disclaimer: Iberian Property followed the criteria of deal announcement dates. Official signing and completion may be subject to due diligence processes.
