Mutualidad de la Abogacía acquires an office building in Madrid

Mutualidad de la Abogacía acquires an office building in Madrid
Francisco Silvela 106, Madrid

Mutualidad de la Abogacía, a non-profit insurance company, has acquired an office building in Madrid from the Europe Value Investors fund, managed by AEW.

The property, located at 106 Calle Francisco Silvela in Madrid, was built in 2002 and subsequently refurbished in 2019. It also has a total above-ground area of 6,269.69 sqm, distributed from the ground floor to the eighth floor, and a total below-ground area of 2,564.15 sqm, which is allocated to 63 parking units divided into three basements.

This operation is in line with number 11 of the Sustainable Development Goals of the UN Agenda 2030, which refers to sustainable cities and communities. In this regard, the building acquired by Mutualidad de la Abogacía has the LEED Gold sustainability seal and a B-rated energy certificate.

Following this transaction, Mutualidad de la Abogacía now has a total of 42 properties in its portfolio, with a total surface area of 162,058.31 sqm and a market value of more than 754 million euros.

The transaction was advised by the real estate consultancy firm Cushman & Wakefield. The legal advisors were the law firms Martín Santiago and Fabregat Perulles Sales, and the technical advisor was Novasa.

Carlos Pérez-Baz, Director of Real Estate Investments at Mutualidad de la Abogacía, stated that, "With this new acquisition, in addition to continuing to increase the value of our portfolio, we are reinforcing our commitment to investing in spaces that are governed by sustainability criteria and are taking steps towards the efficient transformation of their environments".

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