Arima Real Estate has acquired two adjacent properties on Calle Pradillo, close to Madrid’s CBD. Located at Calle Pradillo 56 and 58 which, together with neighbouring Calle Pradillo 54 – already part of the Árima portfolio, the newly acquired properties will allow to create a large institutional lot of c. 12,000m² GLA with 180 underground parking spaces.
The project’s total investment amounts to c. €47m, including the acquisition price and capex to complete a full-scale refurbishment. Árima is currently in the project’s design phase, with the resulting complex set to feature an iconic main façade, flexible and light-infused spaces, generous common areas, terraces and multi-level green spaces. Assembling the separate properties will allow the company to increase the GLA by almost 20% and also provide the complex with underground parking. Demolition works are scheduled to get underway in the first half of this year.
Sustainability is one of the key pillars of Árima’s strategy and business model. The company does not simply create new, efficient and environmentally-friendly spaces – it does so responsibly, opting to give existing buildings a fresh new lease of life, and reusing and recycling existing structures and materials, thus minimising the Socimi’s carbon footprint. The refurbished spaces are much more energy-efficient and equipped with renewable sources. A recent example of this is Árima’s logistics warehouse in San Agustín de Guadalix, where improvements due to be made to the insulation and solar panelling. This is expected to improve the warehouse’s energy efficiency by c. 60%.
The company is also deeply invested in sustainable urban landscaping and mobility, ensuring extensive landscaped spaces and generous outdoor areas are a prominent feature in all of its projects, planting almost 400 trees and fitting 20% of the parking spaces in its portfolio with electric vehicle charging points in 2022, as well as offering electric bikes for its tenants. The Company is financed solely via green loans, has increased its GRESB certification score by 46% - above the European peer group – and obtained EPRA sBPR GOLD certification in recognition of its exceptional performance in sustainability best practices. Árima also aims to have 80% of its portfolio LEED/BREEAM certified by 2024.
