• Axiare Patrimonio completes the purchase of an office property under construction for EUR 29.7 million. This prime office property in Madrid will comprise 8,652 lettable sqm, as well as 261 parking spaces.
  • With this purchase, the Socimi bolsters its position in the A2 area, one of the city’s most established office areas, strategically located between Madrid’s Barajas airport and the CBD.
  • Axiare continues to create a sustainable portfolio. The building will boast LEED Gold certification, awarded by the US Green Building Council.
Madrid, 22 November 2017. Axiare Patrimonio acquires another property in line with its strategic business plan, and brings the total value of its property portfolio close to EUR 1,750 million. The Socimi led by Luis López de Herrera-Oria has acquired an office property at Calle Josefa Valcárcel, 40 bis in Madrid, which is currently under construction, for EUR 29.7 million. With this purchase, Axiare Patrimonio bolsters its position in the A2 and M30 area, one of the city’s most established office areas, located just 9km from Madrid’s Barajas airport and 8km from its CBD. The property is also just a short distance from other properties owned by Axiare Patrimonio, such as Josefa Valcárcel and Juan Ignacio Luca de Tena, which will allow the company to create important synergies. The Socimi, the only one regulated by RICS in Spain, has signed an agreement to acquire the said property, that is currently being constructed by Metrovacesa. The building, which is due for completion in Q4 2018, will comprise a gross lettable area (GLA) of 8,652 sqm, arranged over seven floors, with each floor comprising 1,376 sqm, and able to be divided into as many as four modules. The property will also feature 261 parking spaces distributed over two basement floors. Axiare I+D+i, a subsidiary of Axiare Patrimonio, aimed at applying technological innovation to its properties, will examine the new building, to assess the possibilities of equipping it with state-of-the-art technology especially designed for the real estate sector. These innovations will provide future tenants with a property that is more user-friendly, more practical and more efficient in terms of everyday needs. Axiare Patrimonio´s active asset management strategy allows it to offer value add properties in the sector which in turn allows it to raise rental levels. Last week, Axiare Patrimonio unveiled VIRTO, the world’s first cognitive office building with artificial voice-controlled intelligence. The property, located in the Arroyo de la Vega area (Madrid), boasts a virtual assistant that is capable of learning via natural language with the building’s occupiers and incorporates interactive voice and movement control technology, based on the zero interface concept. The building will also be certified LEED Gold, one of the most prestigious certifications in the real estate sector, awarded by the US Green Building Council. Luis López de Herrera-Oria, CEO of Axiare Patrimonio, confirmed: “With this acquisition, Axiare Patrimonio reinforces its presence in the A2 and M30 area of Madrid”. He went on to add: “Our company acquires properties based on their quality, location and potential value uplift amongst other criteria, always aiming to ensure a high-quality rental property portfolio that is able to generate attractive returns for our shareholders”. The Socimi was advised by EY Abogados on the legal side and BNP Paribas Real Estate on the commercial side. So far this year, Axiare Patrimonio has invested EUR 245 million in the acquisition seven properties in Madrid and Barcelona. These investments, in line with the company’s strategy, have high value uplift potential that will result in attractive returns for shareholders. The company is also in advanced negotiations on properties valued at circa EUR 170 million. Axiare Patrimonio’s portfolio has a market value of circa EUR 1,740 million. In line with the business plan announced at its listing in July 2014, offices account for 74% of its portfolio, logistics warehouses 18%, and the remaining 8% other properties, mainly prime retail warehouses.   About Axiare Patrimonio: Axiare Patrimonio is a Spanish company that has been listed on the Madrid Stock Exchange as a SOCIMI (Sociedad Anónima Cotizada de Inversión Inmobiliaria), since July 9, 2014. Its primary activity is the identification of investment opportunities in the Spanish real estate market and the creation of a prime property portfolio with strong potential value uplift that provides an attractive yield for its shareholders. The company’s value creation strategy is based on the active management of its portfolio, carried out by an expert team solely dedicated to this task – in order to maximise its quality, occupancy and value and transform the properties in to the leading schemes in their catchment area. Axiare Patrimonio’s investment activity is focused on the acquisition of Grade A office buildings – or that have the potential to be – in the CBD and the most sought after business districts in Madrid and Barcelona; logistics platforms on the main distribution highways and retail schemes in established areas in Spain. Axiare Patrimonio forms part of EPRA (European Public Real Estate Association) and is the first rental property portfolio company on the stock exchange to be regulated by RICS in Spain. As well as defining and setting out the highest international professional standards, RICS aims to lead the way in terms of identifying solutions to the main challenges faced by the sector through professional expertise. About RICS: RICS is a global professional body. It promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards – bringing confidence to the markets we serve. The work of our professionals creates a safer world: we are proud of our profession’s reputation and we guard it fiercely.   T +351 91 370 51 19 – E ricsespana@rics.org – www.rics.org