AXA IM Alts has completed the sale of a diversified real estate portfolio of four properties for approximately €300 million ($339 million) to a joint venture between IBA Capital Partners and Batipart Europe.
The transaction was executed through a Spanish real estate company managed by AXA IM Alts on behalf of clients. The assets are in prime strategic locations across key Spanish regions and comprise two office properties, a logistics facility and a plot of industrial development land, all in areas with strong occupier demand.
The flagship asset in the portfolio is a landmark 60,000-square-meter (646,000-square-foot) office complex located at Ramírez de Prado 5 in Madrid, and its sale represents one of the most significant office deals in Spain in recent years. It is anchored by several investment-grade tenants, including the Region and City Council of Madrid. The second office property is located in Ramirez de Arellano, Madrid, with 6,000 square meters (64,600 squa
