The real estate fund manager IBA Capital Partners and Naropa Capital, a vehicle owned by the Fernández-Fermoselle family, have acquired an office building in the centre of Spain’s capital from the Colegio de Ingenieros Industriales de Madrid, according to El Confidencial.
The property is located at number 13, Calle Hernán Cortés, perpendicular to Fuencarral, one of Madrid’s main shopping streets. It has 2,600 m2 of rentable space on four floors, along with 11 parking spaces. It also has a more than 200 m2 rooftop terrace.
IBA Capital and Naropa won the bidding process organised by the Colegio de Ingenieros Industriales. The building once housed one of its headquarters.
IBA Capital and Naropa intend to adapt the building to the requirements of new potential tenants. Impar Grupo will be in charge of the refurbishment, which will start next month and be completed by 2023.
