Spanish Real Estate News 06/11/2023
Ibervalles acquires an office building in the financial heart of Madrid from Allianz
Ibervalles Socimi, a company owned by the Isidro Rincón family, has acquired a 7,000-square-meter office building at 27 Avenida del General Perón in the financial district of Madrid, in the Cuatro Caminos neighborhood, as announced on BME Growth.
Ibervalles plans to renovate the building to meet ESG quality standards and offer premium office spaces. The acquisition was partially funded through an existing credit policy, with BNP Paribas Real Estate acting as intermediaries and DLA Piper and Gleeds providing advisory services.
The purchase aligns with Ibervalles' investment strategy, market demands for office spaces, and current macroeconomic conditions, and it is expected to introduce a unique, high-quality property to the market in terms of location and size.
Lidl acquires a plot of over 200,000 square meters in Zaragoza and will boost an international logistics hub
Lidl has acquired a parcel of over 200,000 square meters in Zaragoza, Spain, to build a logistics hub. This will include a warehouse of up to 100,000 square meters in the Zaragoza Logistics Platform (Plaza), serving multiple countries in southwestern Europe and creating local job opportunities.
Lidl's new logistics project in Zaragoza complements its existing 150,000 square meters of logistics space in the ZAL Port (Barcelona), managing goods arriving from Asia to serve customers in southwestern Europe.
Lidl has been present in Aragón for 29 years, with a network of 15 stores and a commitment to sourcing products from local suppliers, contributing over 200 million euros annually to the region's economy and exporting a significant portion to around 30 countries.
Entrepreneur Tomás Olivo acquires the NH Marbella hotel
Entrepreneur Tomás Olivo has acquired the NH Marbella hotel, a four-star establishment located between the city center and Puerto Banús, as part of his plan to build a hotel platform with six properties.
The hotel was on the market for about a year, with an initial asking price of 24 million euros, but the deal with Olivo was reportedly closed at around 20 million euros. The hotel features 163 rooms, including nine suites, three event halls with a capacity of 300 people, restaurants, a pool, and other amenities.
To facilitate this and other transactions, Olivo has decided to opt out of the socimi regime in the General de Galerías Comerciales company. Being structured as a socimi required distributing profits as dividends, which would have limited the financial capacity for reinvesting in their growth plans.
Colonial sells a 6,670-square-meter office building in Madrid
Inmobiliaria Colonial has sold a 6,670-square-meter office building in Madrid, located at 15 Ramírez de Arellano Street in the San Juan Bautista neighborhood, Ciudad Lineal district. The property is fully occupied by high-profile tenants, including BNP Paribas and the Cámara de Cuentas de la Comunidad de Madrid.
The acquisition was advised by BNP Paribas Real Estate, and legal and technical aspects were covered by RocaJunyent, Riba-Vidal Abogados, and PGI, respectively.
According to Benjamín Gómez, Director of Offices at BNP Paribas Real Estate, this sale is significant in the Madrid office market, showcasing continued investor interest in the sector.
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Omo Retail will develop the largest commercial and leisure park in Madrid
Omo Retail is set to develop the largest retail and leisure retail park in Madrid, in the El Ca?averal area of Vicálvaro, with construction expected to begin in the upcoming spring.
This urban land spans 216,000 square meters and is designated for tertiary-commercial, leisure, and recreational use, covering 90,000 square meters. It enjoys excellent visibility and access due to its location between the M-45 and R-3 highways in the southeastern part of Madrid.
Savills, a real estate consulting firm, is responsible for marketing the commercial park, and Omo Retail is focusing on a project with high environmental sustainability standards, enhancing the development's eco-friendliness.
DHL Express invests 80 million euros in a new international hub in Barcelona
DHL Express is investing 80 million euros in a new international hub at Barcelona's Josep Tarradellas Airport, set to be operational in Q1 2025. It will offer direct shipping routes to Europe, America, and North Africa.
The hub is part of DHL's commitment to innovation, sustainability, and efficiency and will support the company's growth in Barcelona, which has seen a 30% increase in the past five years.
This strategic hub will serve as a vital connection for businesses, particularly small and medium-sized enterprises (SMEs), helping them expand into global markets, and it reflects DHL's focus on the Spanish market, with significant investments in Barcelona in recent years.
Aedas Homes invests over 15 million euros in developing 49 new homes on the Costa del Sol
Aedas Homes is investing over 15 million euros in two new developments, Idilia Sonne and Idilia Terram, as part of their Idilia project in Los Jarales, Rincón de la Victoria, in the province of Málaga, on the Costa del Sol.
These two new developments, comprising a total of 49 homes with two and three bedrooms, feature amenities such as parking, storage, terraces, and common areas including adult and children's pools, gardens, a sun deck, and bicycle spaces.
Aedas Homes began the revitalization of the Los Jarales sector in 2019, which had been stagnant since 2008, and these new developments mark the sixth and seventh projects by the company in this area, contributing to the growth and development of Rincón de la Victoria on the Costa del Sol.