The socimi, Trajano Iberia, has sold the Isla de Manoteras Business Park in Madrid for almost 63 million euros to BNP Paribas Real Estate. The company paid 44.3 million euros for the asset in March 2016. The two firms expect to sign the agreement in the next few days.
The property, at Avenida de Manoteras, 48, has a leasable area of 13,442 square meters and 274 parking spaces. The business park is located north of Madrid, next to the M-30 and A1, in a consolidated area between Manoteras, Las Tablas and Sanchinarro. The area is home to the headquarters of major companies such as Telefónica and BBVA.
After the sale, Trajano will have just four assets, with a leasable area of almost 140,000 square meters and an occupancy of 99%, in its portfolio. Those four assets consist of two shopping centres, Nosso Shopping in Vila Real (Portugal) and Alcalá Magna in Alcalá de Henares; a mixed-use building with a ground-floor store and offices in Bilbao’s CBD and a logistics complex in the Zaragoza’s Plaza industrial park.
According to the latest available data, the original five assets are valued at €335 million euros.