Ardian, together with Prelios, acquires a 13,200 sqm office building in Madrid’s Méndez Álvaro district.

Ardian, together with Prelios, acquires a 13,200 sqm office building in Madrid's Méndez Álvaro district. The investment, made through an Italian umbrella Sicaf wholly owned by Ardian and managed by Prelios SGR, is Ardian Real Estate's second acquisition in Spain under the Group strategy: the purchase of well-located buildings with strong potential for repositioning through active management. The building was purchased from BNP Paribas Group and is situated in an area of Madrid with particularly high growth potential in the office sector. It has a surface area of 13,200 m2 distributed over 15 floors, and 225 parking spaces.

"We are proud to continue the investment process in Spain with Ardian Real Estate," said Prelios SGR CEO Patrick Del Bigio. "We have enhanced the value of the platform implemented in 2021, held by ARDIAN and managed by Prelios SGR, which invests in Spain through the formation of specialized vehicles wholly owned by AREEF 2 - SICAF S.p.A.. This is the second transaction in Spain in six months, amounting to more than 100 million Euro, and confirms that Prelios SGR is extending its operations and range of activity in markets other than Italy". The transaction is Ardian Real Estate's second in Spain after the deal announced last July, when it purchased a 10,000 m2 building located close to AZCA, Madrid's historic financial center.

"The acquisition of this building reinforces our commitment to Spain. It represents a unique opportunity to acquire a highly visible asset within the M-30, in a location with strong fundamentals and potential, and with the opportunity to actively reposition the property into a building of the future," said Edmund Eggins, head of Spain for Ardian Real Estate. "The Ardian Real Estate team in Spain has analyzed many opportunities in the last few months, and today we can say we have closed a great deal with BNP Paribas," said Rodolfo Petrosino, head of Southern Europe for Ardian Real Estate. "For us, Spain, and Madrid and Barcelona in particular, continues to be a very interesting market, and we expect to continue growing our portfolio in the coming months."

Méndez Álvaro is a residential, commercial and office district within the M-30, with excellent links to the airport and the Atocha and Méndez Álvaro rail stations. It is also home to the Spanish headquarters of several multinationals, including Amazon, Repsol and Mahou. The investment was made through a dedicated investment platform controlled by a multi-compartment Italian real estate Sicaf, wholly owned by Ardian and managed by Prelios SGR, one of the leading asset management companies in Italy. Ardian's local team will work on a comprehensive asset refurbishment program to reposition the property as a building that meets the highest international standards of comfort, well-being, sustainability and efficiency, to satisfy the requirements of current and future tenants.