Hines Global Income Trust makes first investment in Spain

Hines Global Income Trust has acquired an office-industrial complex in Madrid through a sale-leaseback transaction with Airbus Defence and Space, S.A.U.

The sales price was €29.2 million ($32.82 million).

The 43,387-square-meter (467,000-square-foot) facility is located in the Corredor del Henares submarket facing the A2 Motorway, only a five-minute drive from Madrid’s airport and 20 minutes from Madrid´s city center. The complex is fully let with a six-year term to Airbus Defence and Space S.A.U. and is comprised of six office and industrial buildings plus two security access points. The facility has the potential to be redeveloped into a best-in-class last-mile logistics facility due to its strategic location close to the Madrid Airport and the ability to reach the majority of Madrid’s population within 45 minutes.

Vanessa Gelado, senior managing director and Hines Spain country head, said, “This asset’s location facin