Jordan-backed Spanish REIT is selling Arturo Soria 125

Last March, Spanish REIT JABA hired Cushman & Wakefield to manage the sale process for Calle Arturo Soria 125 which they purchased for €19.3 million in January 2014.

The asset was previously the regional HQ of the National Department of Traffic (DGT) and has 5 storeys with a total floor area of 6,000m² and 3 basement floors with 148 parking spaces. According to Madrid’s General Urban Development Plan, the property can have residential, tertiary or office use.

Arturo Soria is one of Madrid’s main thoroughfares and offers a good mix of residential and office areas thanks to its location and rapid access to other areas of Madrid. The neighbourhood has enjoyed a steady increase in its office stock which has added to its existing luxury residential offer and contributed to consolidating the area as one of Madrid’s main office hubs.

The length of Arturo Soria makes it a natural link to other business hubs located outside of the M-30 ring road, such as Manoteras, Julián Camarillo and Campo de las Naciones.

A wide range of companies from various sectors have their head offices in Arturo Soria, including BNP Paribas, AXA, LaLiga, SAP, Engie, Siemens-Gamesa, Iberia, Sonae, Warner Bros, UST Global, Mylan, Merck, L´Oréal, Alstom and Ilunion, among others.

JABA Inversiones Inmobiliarias SOCIMI, S.A. was founded in 2013 by Tawfiq Fakhouri, a prominent Jordanian entrepreneur, which currently has assets under management of over €56 million euros including 6 buildings distributed across Madrid, Barcelona and the Cantabria region.