UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) business has acquired a prime office building in the center of Madrid for a total of €52 million ($63 million). The property was purchased from real estate funds managed by Blackstone on behalf of the UBS (I) Zurich Italy – Real Estate Fund (UBS-ZIREF) and marks the first investment undertaken in the Spanish market as part of UBS-ZIREF’s European diversification strategy.
Calle Principe de Vergara 108 is a grade A office building with 7,000 square meters (75,350 square feet) of space across 12 floors, with an additional four basement levels providing 69 parking spaces. This asset is currently fully occupied by a well-diversified tenant mix, comprising different sectors.
This highly visible tower with a panoramic external lift is part of the skyline of Salamanca Office District. Its high exposure to natural light at each level and efficient floor plates complete the sustainable, energy effici
