Catella Asset Management expands its portfolio in Madrid. The Swedish funds manager has closed the purchase of two office buildings in the capital with a joint investment of 35.5 million euros.
The joint surface of the properties exceeds 13,000 square meters. The properties are located at number 15b on Calle Albasanz, in the Puerta del Este complex, and at number 11 on Calle Julián Camarillo.
During the last months, the company has continued with its activity, completing several operations aligned with the investment strategy for the Iberian Peninsula. It continues to work on new transactions and maintains its interest in residential, office, logistic and alternative assets, according to Expansión.
‘Spain very attractive market’
The CEO of the company, Javier Hortelano, explained that ‘Spain is a very attractive market for the funds we advise and, despite the current situation there are still investment opportunities with a very interesting risk/return binomial’.
The office buildings acquired in Madrid add up to 318 parking spaces. Both are located in the Julián Camarillo urban area of Madrid, one of the most sought-after areas of the capital. Real estate consultants Catella on the selling side and Borneo Advisors on the buyer side participated as advisers in the transaction.
Objective: double investment in Spain
With these two operations, Catella adds six transactions in the Iberian Peninsula in 2020, with an investment of 154 million euros. Three of them correspond to the residential segment (rental homes in Vitoria, Valdemoro and Vallecas) and the fourth was the acquisition of a student residence in Seville.
In May, the Swedish manager bought a residential building for rent from Socimi Domo Activos in the Madrid neighborhood of Vallecas for 25.5 million euros. A month earlier, it acquired two buildings of protected housing for rent in Vitoria for 51 million.
In Spain, the Swedish group intends to double its size in terms of managed investment. The company, present in the Iberian market since 2015, manages homes, offices, student residences and retail.
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