Axiare Patrimonio invests €51 mln in Madrid’s business district (ES)

Axiare Patrimonio has signed an agreement with Sareb to acquire 10,780 m² of prime office space in the heart of Madrid for €51 mln. This is the first operation the company has undertaken since successfully completing the €395 mln capital increase on 9 June, which doubled its size and boosted its market capitalisation to over €800 mln.
With this acquisition, the value of Axiare Patrimonio’s real estate portfolio climbs to €613 mln, with prime office space in Madrid and Barcelona representing 73% of the portfolio. The operation adds a total of 10,780 m² gross leasable area and 85 subterranean parking places to the property portfolio.
The offices acquired are distributed over six floors in a building located on the corner of calle Velázquez and calle Padilla in Madrid, offering one of the best configurations in the capital’s business district, with an average surface area of 2,000 m² per floor. The occupancy rate of the new property is roughly 92%, and tenants include the investment bank N+1, the engineering firm Westinghouse, and Konecta.
Source: Axiare