Real I.S and Zambal close Madrid’s 2 latest office deals.

Photo of Juan Jimenez Hevia, Head of Spain for REAL I.S. AG.

German investment fund Real I.S., which is led by Juan Jimenez Hevia in Spain, has bought a centrally located 9,100m² property from Spanish REIT Colonial.

The property is located on nº 30 and 32 of Calle de Alcalá, and leased to the Ministry of Education and Research of Madrid’s regional government. As reported today in a statement, Real IS, the office building, which was built in 1847 and renovated in 1994, has 7 storeys above ground as well as two basement floors, including parking. According to Juan Jiménez Hevia «the good economic figures of Madrid’s prime markets, the size of the storeys and the flexibility of the buildings surface area make it an attractive addition to the portfolio »

On the other hand, Zambal Socimi, a REIT managed by IBA Capital has completed the acquisition of Novus, a 42,000m² office building in the north of Madrid from Axa.

The property is located on nº1 Fuente de la Mora and 100% leased to Everis , Hilti and Eurest and is located close to the headquarters of Iberdrola, La Caixa and BMW, according to Cushman & Wakefield, who has advised Zambal in the acquisition. The property was refurbished in 2017, is set across five storeys and includes a warehouse, common garden areas, four courtyards and 561 parking spaces.