French group Amundi Real Estate has announced the forward purchase of Alcala 544 and 546, two office buildings with a total area of 30,000 m2 in Madrid, from BNP Paribas Immobilier Promotion IE and Therus Invest. Financial details were not disclosed.
Designed by the architectural firm, Fenwick Iribarren, Alcala 544 and 546 will provide 10,000 m2 and 20,000 m2 of space respectively, surrounded by gardens and terraces. The two six-storey buildings will be LEED B+C Platinum certified on completion.
The Alcala 546 building is pre-let to a triple-A tenant, a world leader in the cosmetics industry, under a long-term lease. Its completion is scheduled for the fourth quarter of 2022.
Jean-Marc Coly, CEO of Amundi Real Estate, said that the group was ‘delighted to consolidate its presence in Spain following a first acquisition in 2018 of the Portico building in Madrid and a second in 2019 with SA65 in Barcelona’.
‘This new transaction reflects our strategy of investing in Core/Core+ assets and demonstrates the strong development opportunities we are seeing in the international real estate market,’ Coly added.
