Spain remains focus of wide investor interest
Despite concerns about “forests of cranes” and “toppy” real estate markets, investors continue to see Spain as a good source of opportunity. Among recent transactions in the capital, Madrid, was the purchase by UBS Asset Management’s Real Estate & Private Markets (REPM) business of a 11,549-square-metre office building at Ribera del Loira 56–58 in Campo de las Naciones business park for €38.5 million. The core multi-let property comprises twin modules divided by a central atrium, and is fully let to dental health centre Dentix and Accor Hotels.
Jesús Silva, head of REPM – Iberia at UBS-AM, comments: “This is a high-quality office building in an excellent micro location that continues to see strong occupier demand as the Spanish economy strengthens. Furthermore, the multi-let tenant structure will provide us with a number of more near-term opportunities to benefit from rental growth, improving the income profile of the asset.”
AEW’s Europe Cit