Swiss Life Asset Managers France closed a new acquisition for a refurbished office building in Madrid on behalf of a fund dedicated to an institutional client.

Swiss Life Asset Managers France completed a new office asset acquisition on the Madrid real estate
market of one of its funds dedicated to the French insurance company MAIF. The building totals 3,535sqm and is located in calle de Vizcaya, in the immediate vicinity of Atocha train station, on the edge of the Mendez Alvaro district.
The asset is located in one of the most dynamic areas of Madrid, where Amazon and Just Eat installed their head office. 450 meters from the city's main transport hub, the building will benefit from the greater attractiveness of this mixed area.

Built in 1970, the building underwent a major restructuring and completed in February 2022. The building has 200sqm of outdoor space with a terrace on the 6th floor and a rooftop terrace on the 7th floor. The solar panels installed on the roof produce part of the energy needed to operate the building. This asset is currently being commercialised and is unique on the Madrid office market. The works redefined the office space in line with users’ latest expectations and the latest ESG standards, achieving LEED Platinum and WELL Gold certification. The building also has services that are now sought after by tenants: showers, bike and electric bike parking, parking with charging stations for electric vehicles, intelligent lighting management and air conditioning…

"We are delighted to have concluded this transaction on behalf of MAIF Group, which demonstrates our ability to position ourselves in an asset that meets the latest ESG standards in a very attractive area of Madrid and" asserted Fabrice Lombardo, Head of Real Estate Operations at Swiss Life Asset Managers France.

Swiss Life Asset Managers France was advised by Cushman & Wakefield, law firm Garrigues, Savills and Russell Bedford on this transaction.