Aareal Bank provides financing of €120 mln for office portfolio in Madrid (ES)

Aareal Bank AG provided a €120 mln financing for an office portfolio in Madrid. The financing was granted to Torre Rioja Madrid S.A., a national real estate investor and developer concentrated on the Madrid real estate market.
The office portfolio comprises three buildings in central locations in Madrid with a gross leasable area of approximately 65,000 m² of which are let to several blue chip tenants. Two of the properties were awarded the LEED Platinum standard, the internationally recognized green building certification.
"We are delighted to strengthen our existing lending relationship with strategic long-term investor Torre Rioja Madrid S.A. through this deal in Spain, where we have been present for almost 15 years and have become an integral part of the Spanish real estate market", said Rüdiger Staab, General Manager of Aareal Bank's Madrid representative office. "We are particularly satisfied to have underwritten the financing for such high-quality office properties, providing one of the most modern office spaces in Madrid."
Source: Aareal Bank