CaixaBank Corporate & Investment Banking (CaixaBank CIB) has closed a €55 million bilateral financing facility for Atrea Cubos, the company that owns the iconic Los Cubos building, one of the most distinctive office assets in the Madrid market.
The financing supports the acquisition of the company by an investor group led by Atrea Real Estate, which has added this landmark asset to its portfolio following its acquisition from Henderson Park.
Los Cubos is renowned for its unique brutalist architecture and offers 20,000 square metres of gross leasable area, 4,000 square metres of terraces, and 400 parking spaces. Following a recent repositioning process, the building maintains an occupancy rate of close to 85%, reinforcing its status as one of Madrid’s most emblematic office properties.
The transaction has been structured as a green financing facility, reflecting the parties’ commitment to sustainability and the promotion of efficient real estate assets aligned with the market’s environmental standards.
Through this transaction, CaixaBank CIB continues to support strategic real estate transactions in Spain, providing financing solutions that contribute to the dynamism and transformation of the country’s property market.
Several advisers were involved in the transaction, including DLA Piper, ECIJA, PwC and CBRE, whose collaboration contributed to the successful completion of the deal.
cloud technology axon
The agreement includes the installation of a new state-of-the-art MRI ...
