Friday, August 14, 2020
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Árima Purchases an Office Project on the Last Available Plot in Manoteras for €40 Million

The Socimi has closed the purchase of a plot of land in the Manoteras office district in the northeast of Madrid where it will build a turnkey building spanning 12,000 square metres.

The Socimi Árima Real Estate, created by the management team of Axiare following that firm’s takeover by Colonial, has closed the purchase of a plot of land on Avenida de Manoteras in Madrid where the construction of a pre-rented office building has already been planned.

The operation, known as a forward funding agreement, means that Axiare is buying the plot, where an old building is currently located – which is occupied by the engineering group, Etra -, and which will be demolished to make way for the new one. The new property will comprise seven floors and contain 12,000 square metres of space for offices and other business uses, as well as 245 parking spaces.

Read the full article in Spanish.

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