Acciona has acquired four buildings owned by Mapfre and Iberdrola located between Lezama, Llodio, Xauradó and Orduña streets in the Fuencarral-El Pardo district. The transaction has been closed for between 60 million euros and 70 million euros, according to El Confidencial.
Acciona’s strategy with the recent transaction involves repositioning the 30,000 square metres of floor space of the four assets for Build to Rent, as the buildings are suitable for residential use. This will provide a significant boost to the housing supply in the area, which is set to become Madrid’s new science city and where various developments are already planned to transform the area for good.
The KWM Spain team advising Mapfre on this transaction was led by Pepe Calleja and Candela Escribano Altuna.