GPF Capital to acquire CBRE Global Investors’ Axis building in Madrid
GPF Capital Real Estate, the newly launched real estate arm of GPF Capital, has exchanged contracts with CBRE Global Investors for the acquisition of the Axis Building, in Plaza de Colon, Madrid.
The building, formerly Barclays' headquarters since 1971, is currently undergoing significant redevelopment. The new building has been designed by Foster +Partners, founded by architect Lord Norman Foster.
The Axis building is located at one of the most prestigious business and communication hubs of Madrid, where Chamberi, Madrid Centro and Salamanca districts converge, and where more than 375,000 people pass through every day. This iconic building of c4,000 sq m GLA is distributed over five floors, with a basement for commercial use and offices, as well as a terrace of 775 sq m and 15 parking spaces.
Foster + Partners have designed the new building as a glass cube and diagrid steel bars that form a transparent facade, providing solar control to minimise energy consumption, so the building is completely efficient and sustainable. In addition, a central atrium allows all floors to be viewed from the ground floor, which will also provide indirect daylight on all levels of the building.
The building was acquired in January 2017 by CBRE Global Investors on behalf of one of its funds.
Antonio Simontalero, Country Manager for Spain and Portugal at CBRE Global Investors, says: “The project we are carrying out in Colon 1 is another example of our ability to source and reposition assets with potential and generate value for our investors. We are very proud of this new building, which will undoubtedly become an icon in the city of Madrid.”
GPF Capital has been advised by Grupo A&G, UriaMenendez, PWC and Arcadys.
CBRE Global Investors has been advised by CBRE, Pérez-Llorca, ARQ and NearbyRE.