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Thursday, February 22, 2024

Dentons, Deloitte advise on BWRE´s €50m RE acquisition from MMT

Dentons has advised Bermejo & Williamson Real Estate (BWRE) on the acquisition of five buildings located in Madrid, calle Marqués de Mondéjar from MMT Seguros

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BWRE has acquired five buildings located in Madrid, on Marqués de Mondejar street, from MMT Seguros. BWRE (Bermejo & Williamson Real Estate) is a real estate investment manager focused on innovation in real estate. Since its founding in 2012 it has developed a number of different business lines designed to capitalise on market inefficiencies and arbitrage opportunities in real estate.

The transaction, which has just closed, is worth almost €50 million, involves real estate assets of approximately 10,000 square meters, located within the perimeter of the M-30. Until now, they have been used for offices and mechanical repair shops, and belonged to MMT Seguros since 1957.

With the closing of this transaction, MMT Seguros moves forward in the restructuring and execution of its Strategic Plan, focused on facing a stage of consolidation, value creation and future, and contemplates the enhancement of the company’s assets, as well as a significant improvement in its solvency ratio.

BWRE will refurbish the building, with a floor area of more than 10,000 m2, to convert it into an intelligent office building.

BWRE has indicated that with the acquired assets it aims to develop a project based on the latest trends in high-end “Smart” corporate spaces. It is being designed to achieve all ESG certifications including LEED, WELL and WIRED, all in the platinum category.

The Dentons Real Estate team was led by partner Roberto Tojo, with the collaboration of associates Francisco Jiménez, Gumersindo Clemente and Francisco Bonilla.

Deloitte MMT
Ignacio Echenagusia, Pilar París and Gonzalo Castro Saenz del Castillo (Deloitte Legal)

MMT Seguros was advised by Deloitte Legal and Deloitte Financial Advisory. Deloitte Legal advised with a team formd by partner and head of B&F and Real Estate Ignacio Echenagusia, M&A principal associate Pilar París and M&A associate Gonzalo Castro Saenz del Castillo.

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