L’Etoile Properties advises Amundi on the acquisition of two office buildings in Madrid

14.09.2020 Amundi Real Estate, on behalf of the funds it manages, has acquired the office buildings “Alcalá 544 and 546”, from BNP Paribas Immobilier Promotion IE and Therus Invest, as part of a Forward Purchase Agreement. The two buildings are located in Madrid and cover a total area of 30,000 m².

The buildings will be LEED B+C Platinum certified upon completion and are part of a business complex designed by the architectural firm Fenwick Iribarren. “Alcalá 544 and 546” respectively offer rental areas of 10,000 m² and 20,000 m², throughout 6 levels, and are located on Madrid’s Alcalá Street, in front of the Torre Arias metro station.

The office complex will have collaborative workspaces, large rooftop terraces facing the La Quinta de Torre Arias park, three separate food and beverage sections, and limited service charges.

The Alcala 546 building is pre-let to a triple-A tenant, a world leader in the cosmetics industry, under a long-term lease. Its completion is scheduled for the fourth quarter of 2022.

Amundi Real Estate was advised by L’Etoile Properties throughout the transaction process; Óscar Gutiérrez, Country Head at L’Etoile Properties in Spain remarked: “We are delighted to have assisted Amundi Immobilier in consolidating its presence in Spain with the acquisition of “Alcala 544 and 546”, as we did before in 2018 with the acquisition of the Portico building in Madrid, and again in 2019 with their purchase of Sancho de Avila, 65 in Barcelona. This new transaction reflects core investor interest in attractive Real Estate opportunities, despite the extraordinary recent panorama in the marketplace.”

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