Colliers advises on Malaga office transaction during lockdown

Colliers has acted as an financial and property advisor to an international private investor who has purchased an office building, Alei Center I, for €23 million. The asset is located in the Andalusian Technology Park in Málaga and is part of the complex comprising two twin buildings. It was developed in 2008 and has a GLA of 13,500 sqm distributed across 5 office floors, 1 restaurant, 4 warehouses and 487 parking spaces.

Alei Centre is located in the main artery of the Andalusian Technology Park and is currently 100% let to OP Plus, BBVA’s operational back office services company.

We are very pleased to have been able to close a transaction that was particularly complex as aroused from an insolvency situation, and in which we have advised our client throughout the whole process and financial strategy, Due Diligence and the subsequent management of the property” – said Álvaro Alonso, Managing Director of Colliers International in charge of the deal.

Iñigo Molina, Director of Colliers in Andalucía has pointed out that the “transaction shows that Málaga is an attractive market for real estate investment due to its dynamism, potential and as an alternative to more mature markets offering more adjusted yields” 

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