Ardian acquires 13,200 sqm office building in Méndez Álvaro, Madrid, Spain

The building is located in one of Madrid’s highest growth potential area in the office sector. It has approx. 13,200 m² distributed across 15 floors, in addition to 225 parking spaces.

The deal represents Ardian Real Estate's second acquisition in Spain, and fits perfectly with the Group's strategic focus: the purchase of well-located buildings with strong potential for repositioning through active management.

Ardian, one of the world's leading private equity firms, has closed its second real estate investment in Spain, with the purchase of an office building in Madrid's Méndez Álvaro area from BNP Paribas Group. Méndez Álvaro is a consolidated residential, commercial and office area within the M-30, with excellent connections to the airport, Atocha and Méndez Álvaro stations. It is also home to the headquarters of several multinationals in Spain, including Amazon, Repsol, Mahou and JustEat. The parties have agreed not to disclose the financial details of the transaction.

The building, built in 1993, has a surface area of approximately 13,200 m², distributed over 15 floors, and 225 parking spaces.
Ardian's local team will work on a comprehensive asset refurbishment programme with the aim of repositioning it into a building that meets the highest international standards of comfort, wellbeing, sustainability and efficiency, meeting the needs and demands of current and future tenants.

The acquisition of this building is in line with Ardian Real Estate's strategy, based on value creation through active asset management, with the aim of improving facilities, asset performance and, ultimately, developing their full potential.
The transaction, Ardian Real Estate's second in Spain, follows the one announced last July, when the firm acquired a 10,000 m² building located near AZCA, Madrid's historic financial centre.

"The acquisition of this building reinforces our commitment to Spain. It represents a unique opportunity to acquire a highly visible asset within the M-30, in a location with strong fundamental and potential, and with the opportunity to actively reposition the property into a building of the future. Edmund Eggins, Head of Spain for Ardian Real Estate

"The Ardian Real Estate team in Spain has been working these last months analyzing many opportunities, and today we can say that we have closed a great deal together with BNP Paribas. For us, Spain, and in particular Madrid and Barcelona, continues to be a very interesting market, and we expect to continue to grow our portfolio in the coming months.” Rodolfo Petrosino, Head of Southern Europe for Ardian Real Estate

BNP Paribas Real Estate is the entity responsible for the BNP Paribas Group's real estate assets in Spain. The group planned this transaction following the relocation of three of its business lines to a 13,700 m² building in Madrid Rio. Borja Ortega, CEO of BNP Paribas Real Estate, said: "This transaction demonstrates the interest that the Madrid office market continues to generate for major national and international players. The structuring of the transaction through an orderly process has allowed us to successfully complete the process on schedule".

Ardian Real Estate currently has a team of 34 professionals and a portfolio of over 2 billion and more than 300,000 sqm in Paris, Milan, Rome, Frankfurt, Munich, Berlin and now Madrid. With its first fund, the team completed the largest real estate fundraising in history, with more than €700 million raised. This confirmed continued investor support for Ardian and a direct reflection of the attractiveness of the asset class.