Ibervalles, the real estate investment company dedicated to the acquisition and management of office assets, announces the sale of Edificio Duero, an office complex in the northwest of Madrid. This off-market transaction is part of the asset rotation strategy initiated by the company earlier this year.
The 2,545 square metre building, which is in the process of refurbishing the common areas, is 100% leased on a long-term basis to a single tenant. The real estate consultancy Colliers has advised the buyer, a private investor, on the closing of this transaction.
The Socimi currently has a real estate portfolio comprising 13 properties between Madrid and Lisbon, with assets valued at more than 296 million euros. In addition, Ibervalles reports that it plans to invest a further 250 million euros before the end of 2025.
Among the latest asset additions to its portfolio is the acquisition of the property at number 16 Calle de Ulises in Madrid from the American fund Kennedy Wilson, with 9,580 sqm. The Socimi will also complete the repositioning works of the buildings Alcalá 506 with 7,252 sqm and Josefa Valcárcel 24 with 6,315 sqm (Connecta Building), equipped with the highest standards in sustainability and technology criteria, at the beginning of 2024.
"At Ibervalles we are committed to a value-added strategy in office buildings in the post-covid era, where the priority is to attract employees to the workplace, creating unique and sustainable spaces," comments Javier Isidro Mosquera, CEO of Ibervalles.