Barings Real Estate has announced the acquisition of four office buildings at Avalon Business Park in Madrid, Spain on behalf of an institutional investor.
The newly acquired offices offer 20,749sqm of good quality, class-A office space with modern and flexible buildings, as well as 422sqm of retail space and 351 underground parking spaces. The full business park, which is formed of nine office buildings, totals 46,952sqm.
Adolfo Favieres, Managing Director, Country Head Real Estate for Spain, Barings, said:
“Now that we are sole owners of Avalon Park we have an ambitious plan to position the property as the market reference for this asset class in Spain, through selective capital expenditure and providing services to occupiers. Simultaneously, we continue to expand our portfolio strategy of investing in Core+ to Opportunistic investments across target locations in Europe.”
Barings Alternative Investments (BAI), part of Barings LLC, is a 470+ associate team located across 11 countries that manages $48.5 billion* in client capital. BAI seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate. We serve as a trusted partner to clients, leveraging our global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. As a leading global real estate investor and asset manager, the Barings Real Estate team offers a broad range of investment opportunities across the public and private debt and equity markets, investing across property sectors with a focus on global relative value and trend-backed preferred strategies.