Elialys buys offices in Valladolid for €19.5M

Elialys buys offices in Valladolid for €19.5M

French asset manager Advenis IM, through the real estate company Elialys, it has invested 19.5 million euros in the acquisition from a private investor of the building that houses Bbva's regional headquarters in Castilla-León, located in Valladolid.

It is a complex with two separate buildings. The Palacete, also known as Palacio de Ortiz Vega, was built in 1860, is the main building and has an annex built in the seventies.

The interior of the palace has been recently refurbished and serves as a commercial office, while the adjoining building is used for institutional events, training centre and staff office. The property totals 5,092 square metres and has around fifteen parking spaces, as well as a large garden area. The transaction was advised by RPE Capital Markets and Variant RealEstate.

This investment allows Elialys to strengthen its presence in the office rental market in Spain, after a first purchase in Zaragoza last February. The socimi acquired for €11.6 million a 6,160 square metre office property near the historic centre of the Aragonese capital, which is fully occupied by an energy group.

"This transaction demonstrates that beyond Madrid and Barcelona, the Spanish real estate market has many cities that are highly attractive to international investors," said Pablo Gómez de la Vega, capital director at RPE Capital Markets.

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