Spanish REIT Hispania has acquired three office buildings in Madrid and Barcelona for €40.8 mln as well as a hotel on the island of Tenerife for €36.8 mln.
Spanish REIT Hispania has acquired three office buildings in Madrid and Barcelona for €40.8 mln as well as a hotel on the island of Tenerife for €36.8 mln.
The office acquisition involves a portfolio managed by Meag, Munich Re’s asset manager, which has a total GLA of 25,580 m2 and 464 parking spaces. The buildings in Madrid are located in Arroyo de la Vega, and in the Avda. America –A2 junction, while the Cristal Building in Barcelona is located in San Cugat del Vallés.
The portfolio has an occupancy level of 83% with tenants including Grupo Planeta, La Razón, TNT and Xerox.
On Tenerife, Hispania has acquired the Sandos San Blas Nature Resort & Golf Hotel, which is located in Adeje close to Reina Sofía’s airport. Sandos Group will continue to operate the 5-star hotel under its existing fix-rent lease contract. JLL’s Hotels & Hospitality division advised Hispania on the deal.
Hispania went public in May 2014 and has been on the acquisition trail since then, building up a portfolio of 153,600 m2 of offices, 684 residential units and more than 9,300 hotel rooms, if the latest deals are included.
In addition to the office and hotel deals, Hispania has signed a lease agreement with employment group Grupo Ilunion for 100% of the GLA in the building that previously housed the headquarters of NCR in Madrid. The building is at an advanced stage of a full refurbishment which will be completed in June 2016.
