Last updated: 14:20 / Wednesday, 30 July 2014
Amounting to €42.15 million

Hispania Acquires Four Office Buildings and Two Hotels in Madrid

Hispania Acquires Four Office Buildings and Two Hotels in Madrid

Hispania Activos Inmobiliarios, through its subsidiary Hispania Real SOCIMI, has acquired from IDL Group a portfolio consisting of four office buildings and two hotels, all of them located in Madrid.

The transaction has amounted to €42.15 million, fully disbursed with Hispania’s own funds.

The acquired office buildings are located in the surroundings of the A1 highway, in the north of Madrid, and have a gross leasable area of 14,547 square metres, plus 387 parking spaces.

All four buildings are of recent construction, have an average occupancy of 71% and are located within consolidated business complexes and areas with ample growth potential. The acquired assets are the Arcis Building and Talos Building -both situated in Las Tablas and nearby the new BBVA headquarters-, a building at Av. Bruselas, in Arroyo de la Vega, and a fourth one situated within the complex Poeta Rafael Morales, in San Sebastián de los Reyes.

Regarding the hotel portfolio, it includes the NH Pacífico, a 3* hotel with 62 rooms in Avda. Ciudad de Barcelona, and NH San Sebastián de los Reyes, a 3* hotel with 99 rooms and located within the Poeta Rafael Morales business complex. Both hotels are currently operated by NH Hoteles under long-term rental contracts.

According to Concha Osácar, Board Member of Hispania, “thanks to this acquisition, Hispania continues consolidating its presence within the office segment by investing in high-quality office buildings in the secondary business centre of Madrid as well as strengthening its hotel portfolio with two hotels operated by the renowned Spanish chain NH Hoteles”.

With this transaction, Hispania has already invested €262.8 million out of the €550 million raised in its IPO on March 14th, and is building a portfolio which already includes a gross leasable area of 84,307 sqm in office space -predominantly in Madrid and Barcelona-, 213 dwellings in Barcelona and 3 hotels, one of them in Marbella and the other two in Madrid.