Ibervalles Socimi SA has bought the office building at Avenida del General Perón 27, in Madrid, Spain, and plans to increase ESG features.
The seller of the 7,000 square metre offices in the Central Business District was Allianz Seguros.
Ibervalles Socimi intends to transform the 13-floor building into premium offices with the highest ESG features and standards.
The improvement adds to the transformation of the business and leisure hub with the renovation of the Santiago Bernabéu stadium.
The sale was brokered by the consulting firm BNP Paribas Real Estate. DLA Piper lawyers and Gleeds advised Ibervalles Socimi, and Uría Menéndez advised Allianz Seguros, the seller.
Javier Isidro Mosquera, general director of Ibervalles, says, “The acquisition of this asset is aligned with Ibervalles’ investment parameters, the demands of the office market and the current macroeconomic context.”
Benjamín Gómez, director of offices at BNP Paribas Real Estate, says, “The renovation of this asset will put on the market a unique piece both in terms of location and dimensions, as well as the quality of the renovation. Operations like this certify the dynamism of a key segment for the sector.”