The real estate arm of investment firm Ardian has acquired a 10,000sqm office building in Madrid to as its first investment in Spain.
Ardian Real Estate has invested an undisclosed amount to buy the fully-let asset located near AZCA, Madrid鈥檚 main financial district. The office building was constructed in 1992
The investment was made via a fund owned by Ardian and managed by .
Ardian formally launched its real estate activity in Spain at the end of 2019, when it entered the market.
Edmund Eggins, director in the Ardian Real Estate team, said: 鈥淲e are very pleased to announce our first investment in Spain. The building鈥檚 features and central location - align well with our strategy. The Spanish office investment market continues to be very attractive.
鈥淥ur work will continue to focus on applying sustainability to management and to meet the needs arising from the pandemic with the aim of creating workspaces that adapt to tenants鈥� current and future needs.鈥�
Rodolfo Petrosino, the head of Southern Europe for Ardian Real Estate, said: 鈥淲e are delighted to launch Ardian Real Estate鈥檚 Spanish investment activity with this acquisition. Spain is a key market for us, and we look forward to growing a portfolio of prime-located assets in Madrid and Barcelona.鈥�
Ardian Real Estate currently manages a portfolio of 鈧�2bn across Paris, Milan, Rome, Frankfurt, Munich, Berlin, and now Madrid.
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