Hines Global Income Trust Acquires Airbus Office and Industrial Complex in Madrid
June 22, 2020
Hines, the international real estate firm, is pleased to announce that Hines Global Income Trust (“Hines Global”) has acquired an office-industrial complex in Madrid through a sale-leaseback transaction with Airbus Defence and Space, S.A.U. Hines Global acquired the complex for €29.2m.
The 43,387-square-metre facility is located in the Corredor del Henares submarket facing the A2 Motorway, only a five-minutes drive from Madrid’s airport and 20 minutes from Madrid´s city centre. The complex is fully let with a six-year term to Airbus Defence and Space S.A.U. and is comprised of six office and industrial buildings plus two security access points. The facility has the potential to be redeveloped into a best-in-class last-mile logistics facility due to its strategic location close to the Madrid Airport and the ability to reach the majority of Madrid’s population within 45 minutes.
Omar Thowfeek, Hines managing director-fund management, said: “Hines has over 25 years of experience investing in Spain, and we are excited about acquiring this investment, which provides us access to a prime location in Madrid with upside potential. Hines Global continues to be a believer in the long-term growth prospects of last-mile logistics in major European cities, and this opportunity is in-line with advancing our strategy.”
Vanessa Gelado, senior managing director and Hines Spain country head, said: “This asset’s location facing the A2 motorway and only five minutes from the Barajas Adolfo Suarez airport’s freight terminal represents one of the best locations in Madrid for an asset of this class. Also, completing this acquisition in such a difficult time shows the continued commitment from Hines to the Spanish market.”
Hines Global was represented by DLA and Knight Frank, while BNP Paribas represented Airbus Defence and Space, S.A.U. in the transaction.
Source: Hines Global Income Trust
