Madrid
GPF Capital Enters the Real Estate Sector with an Agreement to Buy CBRE Global Investors’ Axis Building in Madrid
13 Jan 2020
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, Plaza de Colon, Madrid.
The building, formerly Barclays’ headquarters since 1971, is currently undergoing significant redevelopment, transforming the office building into an iconic asset in Madrid’s Plaza de Colon. 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 c. 4,000 sqm GLA is distributed over five floors, with a basement for commercial use and offices, as well as a terrace of 775 sqm 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 minimize 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 said: “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”.
CBRE Global Investors currently manages EUR 4.1 billion of assets in the Iberian region for various clients.
The investment firm GPF Capital is expanding its investment activity with the creation of GPF Capital Real Estate, which is a natural evolution and an initial response to the growing investment appetite in the real estate sector of large national and international family offices invested in their private equity funds.
GPF Capital Real Estate was created with the aim of taking advantage of the most outstanding real estate opportunities offered by the market, considering a wide range of asset classes and always seeking to optimize the risk/return ratio. In this transaction, GPF Capital Real Estate enters with a long-term asset vocation. Founded in 2015 by Martin Rodriguez-Fraile, Ignacio Olascoaga, Lorenzo Martinez de Albornoz and Guillermo Castellanos, GPF currently manages 400 million euros between the funds GPF Capital I, GPF Capital II and GPF Capital Real Estate. Both the funds and the real estate investments are exclusively owned by private investors/family offices in Spain, the US and 13 Latin American countries (Mexico, Brazil, Colombia, Argentina, Peru, Chile, Venezuela, Bolivia, Panama, Salvador, Guatemala, Nicaragua, Costa Rica). With this investment, GPF closes 2019 expanding its lines of business activity and executing its seventh investment in five months after the purchases of GPF Capital II of Golderos, Quimi Romar, Xiomara, Gestair, FrutasNaturales and Fruxeresa.
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.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $106.2 billion in assets under management* as of September 30, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit http://www.cbreglobalinvestors.com/
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
The building, formerly Barclays’ headquarters since 1971, is currently undergoing significant redevelopment, transforming the office building into an iconic asset in Madrid’s Plaza de Colon. 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 c. 4,000 sqm GLA is distributed over five floors, with a basement for commercial use and offices, as well as a terrace of 775 sqm 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 minimize 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 said: “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”.
CBRE Global Investors currently manages EUR 4.1 billion of assets in the Iberian region for various clients.
The investment firm GPF Capital is expanding its investment activity with the creation of GPF Capital Real Estate, which is a natural evolution and an initial response to the growing investment appetite in the real estate sector of large national and international family offices invested in their private equity funds.
GPF Capital Real Estate was created with the aim of taking advantage of the most outstanding real estate opportunities offered by the market, considering a wide range of asset classes and always seeking to optimize the risk/return ratio. In this transaction, GPF Capital Real Estate enters with a long-term asset vocation. Founded in 2015 by Martin Rodriguez-Fraile, Ignacio Olascoaga, Lorenzo Martinez de Albornoz and Guillermo Castellanos, GPF currently manages 400 million euros between the funds GPF Capital I, GPF Capital II and GPF Capital Real Estate. Both the funds and the real estate investments are exclusively owned by private investors/family offices in Spain, the US and 13 Latin American countries (Mexico, Brazil, Colombia, Argentina, Peru, Chile, Venezuela, Bolivia, Panama, Salvador, Guatemala, Nicaragua, Costa Rica). With this investment, GPF closes 2019 expanding its lines of business activity and executing its seventh investment in five months after the purchases of GPF Capital II of Golderos, Quimi Romar, Xiomara, Gestair, FrutasNaturales and Fruxeresa.
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.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $106.2 billion in assets under management* as of September 30, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit http://www.cbreglobalinvestors.com/
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.