The real estate arm of investment firm Ardian has acquired a 10,000sqm office building in Madrid to as its first investment in Spain.
Ardian Real Estate has invested an undisclosed amount to buy the fully-let asset located near AZCA, Madrid’s main financial district. The office building was constructed in 1992
The investment was made via a fund owned by Ardian and managed by Prelios.
Ardian formally launched its real estate activity in Spain at the end of 2019, when it entered the market.
Edmund Eggins, director in the Ardian Real Estate team, said: “We are very pleased to announce our first investment in Spain. The building’s features and central location - align well with our strategy. The Spanish office investment market continues to be very attractive.
“Our work will continue to focus on applying sustainability to management and to meet the needs arising from the pandemic with the aim of creating workspaces that adapt to tenants’ current and future needs.”
Rodolfo Petrosino, the head of Southern Europe for Ardian Real Estate, said: “We are delighted to launch Ardian Real Estate’s Spanish investment activity with this acquisition. Spain is a key market for us, and we look forward to growing a portfolio of prime-located assets in Madrid and Barcelona.”
Ardian Real Estate currently manages a portfolio of €2bn across Paris, Milan, Rome, Frankfurt, Munich, Berlin, and now Madrid.
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