Ardian has completed a prime property in the center of Madrid, its first transaction in the residential sector in Spain. This transaction aligns with Ardian’s strategy to expand its investment portfolio and diversify across real estate asset classes in Europe, particularly in Spain.
The property, acquired from investment manager Patrizia, has a total built-up area of around 3,000 square meters (32,000 square feet) and is situated in a prime location at Calle Zurbarán 28 in Almagro, one of Madrid’s most exclusive neighborhoods, with direct access to the Paseo de la Castellana (one of Madrid’s main roads) and excellent public transport links.
Ardian will transform the space from offices into a high-end residential building comprising 10 apartments with 40 parking spaces. The renovation will be carried
