KCRE acquires a 5,600 sqm office building in Madrid

on 12/29/2017

Madrid, December 18th, 2017.

Kefren Capital Real Estate (KCRE) has closed the acquisition of an office building located at Calle Juan de Mariana, 15 (Madrid). The property was Grupo Segur Iberica’s headquarters until the company’s insolvency during the summer. PwC, the receiver administering the liquidation proceedings, awarded the asset to Kefren Capital, the winner of the competitive bid process.

The building was completed in 1994 and comprises c. 3,600 sqm above ground spread over 5 floors, and over 2,000 sqm below ground, including 39 parking spaces. “The building is very flexible – it would be ideal as the headquarters of a company that wants to be in a central location at a competitive rent, a co-working office for the south of Madrid very close to the high-speed train, or as a mixed use building offering the possibility to service last mile logistics thanks to a loading dock at street level” states Pelayo Primo de Rivera, CEO of KCRE.

It is located in Mendez Alvaro-Delicias district, a consolidated business area home to large companies such as Repsol, Amazon, Gas Natural, Ericsson, CLH and Mahou, with excellent public transport and road connections. The building is just a 15-minute walk from Atocha train station and Parque del Retiro (to the north), and a 5-minute drive to the M-30 ring road (to the south).

Over the last 10-15 years Mendez Alvaro has benefited greatly from the general gentrification of Madrid’s southern neighborhoods and the comprehensive supply of services that new office and residential developments have brought with them.

KCRE has been advised by Araoz y Rueda on legal matters and Mace on the technical side. Juan de Mariana 15 office building is the 4th successful value-added transaction completed by Kefren Capital Real Estate in 2017.

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Kefren Capital Real EstateKCRE acquires a 5,600 sqm office building in Madrid