Madrid, 25 de septiembre 2019. Last Friday the real estate investment and management firm Kefren Capital Real Estate (KCRE), completed the disposal of an-office building located in Juan de Mariana 15, in the Mendez Alvaro area of Madrid. KCRE acquired the asset through a public auction process in December 2017. Prior to this acquisition, the building was the headquarters of Grupo Segur Iberica.
The building was completed in 1994 and comprises c. 3,600 square meters above ground, spread over five floors, and over 2,000 square meters below ground level, with 59 parking spaces. The asset is located in Mendez Alvaro, a previously industrial district which has been redeveloped into a modern office and residential area during the last decades.
At the time of its acquisition, in December 2017, the building was completely vacant and had some unusual facilities tailored for Segur Iberica, such as shooting range and secure vault. KCRE carried out a complete refurbishment, and leased it to Talent Garden, a leading European co-working network for digital innovation.
Pelayo Primo de Rivera, CEO of KCRE, highlighted: “In less than two years, we have carried out a comprehensive reform that repositioned the building, let it to Talent Garden, an attractive tenant, and sold the building to Catalana Occidente. This transaction highlights our expertise implementing Value-add strategies in the Office space”.
KCRE has been advised by Savills Aguirre Newman (property advisors), Araoz y Rueda (legal advisor) and Estudio Azqueta (coordinator of the refurbishment Project). Catalana Occidente has been advised by Cuatrecasas (legal advisor).
About Kefren Capital Real Estate
KCRE is a real estate asset management company created in 2012 by the investment firm Kefren Capital. KCRE offers investors the full range of services required for a real estate transaction: sourcing, analysis, financing structuring, deal negotiation and asset management. What differentiates KCRE from other platforms is its ability to co-invest and its investment philosophy – assets are managed from the perspective of the owner and not simply as a third-party manager. Over the last 4 years, the company has closed over 225,000 sqm in logistic transactions in Spain. Further information is available at: www.kcre.es