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Funding
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Private Deal, Value Add Office building in Madrid, Spain

Madrid
,
Spain
DEAL
001083
POSTED ON
September 15, 2020
INVESTMENT SUMMARY
IRR
NA
Multiple
NA
LTV
NA
First Year CoC
NA
Stabilised CoC
NA
Status
Funding
Deal #
001083
Asset Class
Office
Strategy
Value Add
Capital Type
Full Stack
Deal Size
17.0
m
Investment Size
17.0
m
Holding Period
NA
INVESTMENT HIGHLIGHTS
  • Office building located in the centre of Madrid, in Plaza del Conde de Casal, a very demanded area with very occasional  availability of commercial assets for sale. The building enjoys a corner location and it was built in the 1960s. Since then the building has received various refurbishments with the latest occurring in 2005.
  • The area of Conde de Casal sits in Retiro’s neighbourhood. Retiro is a district located at the southeast of the city centre and has a population of c. 150k inhabitants. It’s a very sought area of Madrid given its location next to Retiro park, proximity to business district as well as to Madrid centre. Additionally it’s minutes away from train station Atocha, and excellent connected by either car or underground with station Conde de Casal at the doorstep.
  • The site occupies a total area of 1,382 sqm. The building is distributed across eight storeys above ground, ground floor and underground parking. The total surface above ground is 5,107.79 sqm, and 1,479 sqm of parking space below ground.
  • The building has the possibility to change to other uses being residential the most recommended by the sponsor. The maximum area that can be built above ground 6,747 sqm. The ground floor is currently used for commercial and the floors above ground for office space. The office space is currently vacant.
  • The owner is looking to sale the asset as it is or with a change of use permit if required by the buyer. Asking price is €17m or equivalent of €3,079/sqm.  
KEY DEAL POINTS
KEY FINANCIALS
ABOUT SPONSOR
Private Deal
An off-market opportunity, details of which are available by invitation only.
FURTHER IMAGES
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LOCATION
DEAL DATA ROOM
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CONTENT RESTRICTED

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INVESTMENT SUMMARY
Strategy
Value Add
Asset Class
Office
LTV
NA
Deal Size
17.0
m
Closing
Dec 2020
Capital Type
Full Stack
Investment Size
17.0
m
Net IRR
NA
Multiple
NA
Holding Period
NA
INVESTMENT DETAILS
  • Office building located in the centre of Madrid, in Plaza del Conde de Casal, a very demanded area with very occasional  availability of commercial assets for sale. The building enjoys a corner location and it was built in the 1960s. Since then the building has received various refurbishments with the latest occurring in 2005.
  • The area of Conde de Casal sits in Retiro’s neighbourhood. Retiro is a district located at the southeast of the city centre and has a population of c. 150k inhabitants. It’s a very sought area of Madrid given its location next to Retiro park, proximity to business district as well as to Madrid centre. Additionally it’s minutes away from train station Atocha, and excellent connected by either car or underground with station Conde de Casal at the doorstep.
  • The site occupies a total area of 1,382 sqm. The building is distributed across eight storeys above ground, ground floor and underground parking. The total surface above ground is 5,107.79 sqm, and 1,479 sqm of parking space below ground.
  • The building has the possibility to change to other uses being residential the most recommended by the sponsor. The maximum area that can be built above ground 6,747 sqm. The ground floor is currently used for commercial and the floors above ground for office space. The office space is currently vacant.
  • The owner is looking to sale the asset as it is or with a change of use permit if required by the buyer. Asking price is €17m or equivalent of €3,079/sqm.  
INVESTMENT HIGHLIGHTS
Funding
SUMMARY
Opportunity to acquire an office building in the centre of Madrid, Spain. The property is currently vacant and the owner is looking for a quick sale. There is potential for change of use of the property to residential or hospitality. Asking price is €17m (€3,079/sqm).
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Reservation
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Meeting
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