Jaba buys an office building in Madrid for €6M

Jaba buys an office building in Madrid for €6M

The real estate consultancy Catella has advised the Socimi Jaba I Inversiones Inmobiliarias in the purchase of an office building in Madrid for six million euros, according to a statement send to BME Growth. The building was acquired from a technology company, under the modality of 'sale & leaseback'.

The property has a total area of 2,550 sqm, divided into four floors for offices and a ground floor with an auditorium and reception, as well as 40 parking spaces. It is located at 29 Julián Camarillo Street, in the San Blas - Canillejas neighborhood of Madrid (known as the Madbit area), one of the best office areas in the capital, in continuous economic expansion, where we can find leading international companies such as Telefónica, IBM or Bosch. The building was built in 1992, but has been recently renovated.

The transaction has been financed 20% by own resources and the remaining 80% by external resources through a mortgage loan with Banco Santander maturing in December 2033.

Headquartered in Madrid and with a capital of 33 million euros, the Socimi Jaba I Inversiones Inmobiliarias was created in 2014 with the main objective of acquiring and managing "properties of the highest quality in the best locations". To date, the company has several office assets in Madrid and Barcelona, as well as the Cantabria Science and Technology Park, in Santander, which in total add up to more than 21,500 sqm of GLA.

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