In a landmark transaction highlighting continued investor confidence in Spanish commercial property, AXA IM Alts has completed the €300m sale of a diversified Spanish real estate portfolio to a joint venture between IBA Capital Partners and Batipart Europe. The portfolio comprises four strategic assets across Madrid and Barcelona, including a prestigious 60,000 m² office complex that stands as one of Spain's most significant office transactions in recent years.

The flagship property at Ramírez de Prado 5 in Madrid hosts several investment-grade tenants, including the Region and City Council of Madrid, while the second office asset in Ramirez de Arellano offers 6,000 m² of prime office space. Complementing these office properties, the portfolio features a 35,000 m² logistics facility in Barcelona—one of Europe's key Mediterranean logistics hubs—and a plot of industrial development land with strong growth potential in the same region.

"This transaction is the result of effective coordination and execution across a complex process, shaped by both the scale of the deal and wider market dynamics. Throughout our long-term ownership of the portfolio, the assets performed well, with our asset management teams driving performance and the sale culminating a strong result for our clients. This disposal aligns with AXA IM Alts' broader strategy of actively managing and divesting assets where value has been realised, allowing us to redeploy capital into new opportunities with longer-term growth potential in our conviction asset classes," said John O'Driscoll, Global Co-Head Real Estate at AXA IM Alts.

The transaction marks the successful culmination of AXA IM Alts' business plan for this portfolio, crystallising returns for clients while demonstrating the enduring appeal of premium Spanish real estate assets despite broader market challenges. The sale was executed through a Spanish real estate company managed by AXA IM Alts, which oversees €186bn of assets under management globally.

• John O'Driscoll, Global Co-Head Real Estate at AXA IM Alts
• AXA IM Alts - Global leader in alternative investments
• IBA Capital Partners - Spanish real estate investment manager, buyer in joint venture
• Batipart Europe - European real estate investor, buyer in joint venture
  
  
  
• Image - copyright - Prado 1 - Javier de Paz Garcia
  
  

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