GPF Capital doubles its real estate commitment in Madrid’s Plaza de Colón with the purchase of another flagship building

GPF CAPITAL doubles its real estate commitment in madrid’s Plaza de Colón with the purchase of another flagship building

• The building located in the centre of Spanish capital at Paseo de la Castellana 2 on the corner of Calle Goya 1 has a surface area of more than 1,850 square metres on four rectangular floors and a roof terrace.
• GPF plans to undertake an investment of more than 35 million euros that will allow for a complete transformation of the building, completely refurbishing it and adapting it to new trends.
• This is GPF Capital’s fourth real estate transaction since the beginning of the pandemic.
• The firm currently manages real estate assets valued at over EUR 250 million and continues to be very interested in finding quality assets with attractive returns.

Madrid, 23 september 2021. GPF continues to invest in the emblematic Plaza de Colón, in the centre of Madrid, with the purchase of another exclusive building owned by Banca Privada de Andorra.

The idea of the firm is to repeat the success achieved with the purchase of the Axis building, also owned by GPF and located in the same square. The Axis building was completely refurbished by Norman Foster and became a flagship building for Caixabank, which has just opened it to the public with an innovative «all in one» implementation.

The building is located in Madrid’s central area at Paseo de la Castellana 2 on the corner of Calle Goya 1. It is the only building still to be refurbished in a square where the rest of the buildings, including the Archaeological Museum, are being refurbished or have been refurbished in recent years.

Its privileged location, luminosity and visibility from the square make it a unique building. For this reason, GPF plans to undertake an investment of more than 35 million euros that will allow for a complete transformation of the building, completely refurbishing it and adapting it to new trends.

The building has a surface area of more than 1,850 square metres on four rectangular floors and a roof terrace. The size of its floors and its four free-standing facades offer great flexibility to accommodate one or more tenants. The building, together with the public space of Margaret Thatcher Square in front of it, will create a visually interconnected public environment, allowing for strolling and free flow of visitors.

Several potential clients have already shown interest in GPF’s tailor-made project, including public bodies, corporations that want to exponentially boost their brand image, tenants that want to improve their commercial experience in a privileged location with a great flow of people and very close to Serrano street and restaurants that want to open their first establishment in Spain.

GPF’s investment will allow the building to become a landmark for the city and recover a space that has been largely abandoned in recent years, improving the quality of the public space nearby.

This is GPF Capital’s fourth real estate transaction since the beginning of the pandemic. The firm currently manages assets valued at over EUR 250 million in this branch of real estate activity and continues to be very interested in finding quality assets with attractive returns.

Its investments include High Street Retail operations such as the one in the commercial area of the emblematic Edificio España in Plaza de España in Madrid where the Inditex group has leased more than half of the space to open three of its brands. It has also invested with Inbest in the purchase of several buildings leased to El Corte Inglés in major provincial capitals and has recently partnered with Omo to invest up to EUR 120 million in medium-sized retail assets. In addition to these investments, it is present in other sectors such as offices with the iconic Axis building in Plaza de Colón, in residential with the development of 30 homes in the prestigious Valdemarín area of Madrid, and in logistics and industrial warehouses.

Perez Llorca and ARQ Arquitectos have been involved in this transaction as advisors on behalf of GPF Capital. The seller, BPA, has been advised by CBRE and Garrigues.

About GPF Capital

Founded in 2015 by Martín Rodríguez-Fraile, Ignacio Olascoaga, Lorenzo Martínez de Albornoz and Guillermo Castellanos, GPF currently manages more than €850 million of capital between the GPF Capital I, GPF Capital II and GPF Capital III funds and GPF Capital Real Estate. All funds managed by the firm are backed exclusively by family offices and private investors from Spain, USA and Latin America.