Barings buys Madrid office refurb project

Barings, one of the world’s largest diversified real estate investment managers, announces the acquisition of Severo Ochoa 2 (“The Property”), an office property located at Las Rozas Business Park in Madrid, Spain. The Property was purchased on behalf of institutional investors.

Severo Ochoa 2, which comprises ca. 12,700 sq m of Grade A office space and is the headquarters for a prominent bank, was designed by the prestigious architect, Julio Cano Lasso, in 1992 and benefits from parking for 350 vehicles a recreation and sport area, a bar and cantina, an auditorium, landscaped external space, and terraces overlooking the surrounding mountains.

Las Rozas Business Park is in a highly sought-after location benefitting from direct access to both the A6 and M50 motorways and is located approximately 15 minutes walking distance from the commuter train station that connects to Madrid city centre.

Adolfo Favieres, Managing Director, Real Estate Country Head Spain at Barings, said: “This is a rare opportunity to acquire an award winning office building in an under-supplied submarket which is set to benefit from continued strong occupier demand and rental growth. La Rozas Business Park is a well-established business hub with historically high occupancy rates. It benefits from excellent connectivity, design and amenities to make it an attractive location for business, and presents an opportunity to add value for our investors.”

Barings Alternative Investments (BAI), part of Barings LLC, is a 470+ associate team located across 11 countries that manages $48.6 billion* in client capital. BAI seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate. We serve as a trusted partner to clients, leveraging our global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. As a leading global real estate investor and asset manager, the Barings Real Estate team offers a broad range of investment opportunities across the public and private debt and equity markets, investing across property sectors with a focus on global relative value and trend-backed preferred strategies.

About Barings

Barings is a $317+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.

*As of March 31, 2019