IBA Capital Partners acquires Vodafone HQ in Madrid

IBA Capital Partners has acquired the headquarters of Vodafone in Spain at 115, Avenida de America in Madrid through Iberia Nora Socimi on behalf of Zambal Socimi SA (a Core+ investment vehicle).

IBA was pleased to be working with Leonard Sebastian of L&R on this transaction.
The asset is a self-contained campus consisting of 5 buildings and was completed in 2014. Located strategically at the junction of the N2 motorway and the M40 ring road (near Madrid's Barajas International Airport). The asset provides 50,000 m2 office space and 1500 parking spaces.
It is occupied in entirety by Vodafone Spain on a long-term lease.
IBA Capital Partners were advised in this transaction by Iván Azinovic of Gomez Acebo y Pombo on legals & PWC at financial and tax level.
IBA Capital Partners is an Investment and Asset Manager based in Madrid. IBA was one of the first players to lead-in Spain's real estate recovery in mid-2013.

Source: Property Funds World