Sofidy lands in Spain with an acquisition of offices in Madrid

Sofidy lands in Spain with an acquisition of offices in Madrid

The acquisition corresponds to an office complex comprising three properties in Madrid, in the heart of the Julián Camarillo business area (MADBIT). The transaction was carried out through an off-market transaction between the real estate investment companies (SCPI) SOFIDY Europe Invest and EFIMMO 1.

Built in 2006 and renovated in 2021, this office complex enjoys an exceptional location in Madrid's new technology district (MADBIT), a business area occupied by such emblematic Information and Communications Technology companies as IBM, Indra, Telefónica and Atos.

The total surface area of the real estate asset is 10,300 sqm distributed over 4 floors, with 193 parking spaces. It has multiple public transport connections and direct access to several main roads (Madrid ring road M30, M40, A2 Madrid-Barcelona motorway) and Madrid-Barajas airport.

The complex, which is certified "Very Good" by Breeam-in-Use, is currently 100% occupied by private companies (Sony, the Linkia and CTO training centres, and the Euromaster tyre distribution company).

"We are very pleased with this first acquisition in Madrid, which is in the context of our investment strategy characterised primarily by geographic diversification in Europe, with a prudent approach in the selection of our assets. Location is and will remain the key word. The new MADBIT technology district has many advantages: it offers modern and flexible space, is close to the centre and very well connected, and has a wide range of services on offer. In recent months, a number of companies have moved into the district," explains Jean-François Le DREN, Deputy Investment Director - Europe at Sofidy.

SOFIDY was advised by Resource Capital Partners in the commercial due diligence and execution of the transaction, and by Jones Day as legal and tax advisor. CBRE acted as intermediary in the transaction on behalf of the seller. The local management of the asset is underwritten by Resource Capital Partners.

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