Axiare Patrimonio invests €49 mln in Grade A office buildings (ES)

The Socimi Axiare Patrimonio has completed the acquisition of an office complex in Madrid, comprised of two identical office buildings, brokered by BNP Paribas, for a price of €49 mln.
The investment adds 17,587 m² of prime gross lettable area to its commercial property portfolio – comprised of approximately 72% offices located in the main business districts of Madrid and Barcelona- which now stands at 430,203 m² GLA.
The high-spec Grade A twin office buildings form part of the same complex in the Cristalia Business Park within the Campo de las Naciones business district, where the company already owns two other buildings, acquired in February.
The new property comprises two identical office buildings, both of which are arranged over seven floors; they have an average open-plan floor space of 1,465 m² and a combined total of 381 underground car parking spaces.
The asset benefits from an occupancy rate of close to 80% and its tenants include companies such as the engineering consultancy Alten Solution España and the Danish multinational Novo Nordisk Pharma.
Source: Axiare Patrimonio