Recently launched Spanish REIT Hispania Real Socimi has acquired a portfolio of four office buildings and two hotels in Madrid from IDL Group for a total of €42 mln.
Recently launched Spanish REIT Hispania Real Socimi has acquired a portfolio of four office buildings and two hotels in Madrid from IDL Group for a total of €42 mln.
With this transaction, Hispania has already invested €263 mln of the €550 mln raised from its IPO in March.
The acquired office buildings are located to the north of Madrid and have a gross leasable area of 14,550 m2, plus 387 parking spaces, with an average occupancy of 71%.
The assets are the Arcis Building and Talos Building, both situated in the Las Tablas district close to the new BBVA headquarters, a building at Av. Bruselas in Arroyo de la Vega, and a fourth property situated within the Poeta Rafael Morales complex in San Sebastián de los Reyes.
The hotel portfolio includes the NH Pacífico, a three-star hotel with 62 rooms in Av. Ciudad de Barcelona, and NH San Sebastián de los Reyes, a three-star hotel with 99 rooms located within the Poeta Rafael Morales business complex. Both hotels are currently operated by NH Hoteles under long-term rental contracts.
Hispania's portfolio includes 84,307 m2 of office space located predominantly in Madrid and Barcelona, 213 residential units in Barcelona and three hotels.
Hispania went public on the Spanish Stock Exchange in March 2014, raising €550 mln. It is externally managed by Azora.
