Spanish REIT Zambal has announced the acquisition of the Novus office building in Madrid for around €90 mln.
The asset, which was owned by two funds managed by AXA IM Real Assets, is located at calle Fuente de la Mora 1 in Madrid's Manoteras district and provides nearly 43,000 m2 of space over five storeys.
Redeveloped in 2017, it is fully leased to a number of tenants including multinational consulting firm Everis which earlier this year agreed to take 37,800 m2 in the largest Madrid office letting since 2013. Another tenant is Hilti, a major technology provider to the construction industry.
Located in the north of the city, close to Madrid's Barajas airport, the building boasts a BREEAM Very Good sustainability certificate.
AXA IMRA acquired the building in 2015 on behalf of one of its clients and subsequently undertook a significant asset management programme.
C&W brokered the deal.
