Axiare purchases an office building for 41.5 million, advised by Cushman & Wakefield

Click to Enlarge

Axiare Patrimonio closes its first transaction in 2017 with the purchase of an office building in Madrid, let to Grupo PSA (Peugeot Citroën), for a total of 41.5 million euro. The firm headed by Luis López de Herrera Oria has acquired this asset from Grupo Gmp, Montoro family’s REIT, with a premium of 1.8% on the valuation at the end of June 2016. With this acquisition, Axiare secures a recurring income over the next ten years, as PSA recently signed a lease expiring in 2026. The office building is located at Puerto de Somport 8 in Las Tablas, an office area where numerous companies like BBVA, Telefónica, Philips, Renault, Abbott, Técnicas Reunidas, BMW or Porsche amongst others have their (Spanish) headquarters.