EPISO 4, managed by Tristan Capital Partners, together with local operating partner Savills Investment Management has acquired a 78,000-square-meter (840,000-square-foot) office portfolio in Madrid from Inmobiliaria Colonial Socimi.
The sales price was estimated to be €441 million ($508 million).
The portfolio consists of six office properties located in established submarkets outside Madrid’s CBD: Campo de las Naciones, Josefa Valcarel (A2) and Arroyo de la Vega (A1) as well as Augustin de Foxa, located in Chamartin. The portfolio provides immediate and large exposure to the Madrid office market and offers a well-diversified tenant mix with the potential to capture rental growth.
“Years of strong economic growth and job creation and limited new developments have created a supply-demand imbalance in the Madrid office market, resulting in significant net absorption and robust occupational growth,” said Nikolay Velev, executive director at Tristan Capital
