Angelo Gordon & IBA buy Barajas 1 from GMP.

Angelo Gordon and its partner IBA Capital Partners have bought the Barajas 1 building located on Madrid’s Trespaderne Street (nº 29) which has SGS and Vodafone as its main tenants. Cushman & Wakefield acted as technical advisors to the buyers and Uría acted as legal advisors.

CBRE, has acted as the exclusive advisor to the vendors, GMP, who have received 37.5 million according to LaVanguardia. The building has a gross leasable area (GLA) of 29,173m2 and 209 parking spaces.

Located next to Madrid’s international Adolfo Suárez Airport, it has excellent visibility and access from the M-14 and A-2 motorways. The Alameda de Osuna metro station is less than 10 minutes away on foot.

The buyers intend to refubrish the building in line with current market guidelines and the planned investment plan will include the modification of the façade, the renovation of common areas and the upgrading of technical facilities.

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