Mutualidad de la Abogaci? A has reached an agreement with the developer Tenihabana (a vehicle advised by the Tenigla and Doble Digito management companies) for the purchase of a commercial building on Madrid’s Paseo de la Habana. The acquired property is located at number 9-11 of said Madrid street and has an area of 5,560 m2 divided into ground floor, access floor, upper floor, roof and terraces .
Tenigla and Doble Digito, together with a group of investors, bought the offices in 2018, and have since coordinated the transformation works for turnkey delivery last March, according to the Utopicus Innovación Cultural project, the manager of Shared workspaces of the Socimi Colonial, which will occupy the space as a long-term tenant .
Thus, the non-profit insurance company that offers legal professionals and their families solutions to cover all their pension and savings needs already has several properties in this area, among which is the commercial building of Paseo de la Habana 3 and the premises of Concha Espina 18 .
“Alternative assets have acquired a major relevance in the real estate sector of our country. They not only represent an excellent value for the portfolio of any investor, but also provide very interesting yields . From Mutualidad de la We are committed to continuing to grow in line with market demands, diversifying our investment in a context where Real Estate continues to be a safe haven “, explains Carlos Pe? Rez-Baz, director of Real Estate Investments at Mutualidad de la Advocacy.
A value of 862 million
With this new acquisition, Mutualidad de la Abogaci? A adds a total of 48 properties in its portfolio, with a total area of 283,680 m2 and a market value of more than 862 million euros . On the other hand, the acquisition costs amount to more than 809 million euros, with a net book value of the portfolio of more than 699 million euros, which yields a latent capital gain of more than 809 million euros. s of 163 million euros.
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