• Tue. Jan 25th, 2022

Europi And Kefren Launch A Joint Venture To Invest 150 Million Euros In Offices

ByRoger Fisher

Dec 16, 2021

Europi Property Group and Kefren Capital Real Estate have launched a joint venture focused on investing in office assets located in the main “innovation and knowledge centers” in Madrid and Barcelona. The joint venture has the objective, initially, to invest 150 million euros in assets focused on high quality and class A offices .

The joint venture has investment criteria based, fundamentally, on the acquisition of assets over which active management can be carried out, in terms of improvements to ESG credentials, occupancy, technical specifications of the building and the environment of the tenants. Your goal is to add another two or three assets to the portfolio in the short term .

“We are delighted to consolidate this joint venture with Europi and we are already thinking of adding more assets to the portfolio. We have been active in office space for the last few years. This joint venture represents an important step for us in consolidating our strategy. as a value-add investor in Spain. Our objective is to create attractive workspaces for their occupants, with a respectful approach towards the environment . We aim to obtain the highest ESG certifications for the assets in our portfolio “, says Pelayo, CEO of Kefren Capita.

Recently, Europi and Kefren have completed the first acquisition of an active office in Barcelona to start their investment strategy in Spain. Located in Esplugues 225, the building has 9,500 square meters and is currently the headquarters of Servihabitat . Both firms will focus on improving the asset from an ESG point of view, as well as improving the environment around the tenants. Buigas and Dress & Sommer have acted as legal and technical advisers to the joint venture in the purchase of Esplugues 225.

“Esplugues 225 is our first direct investment in Spain within our defined investment strategy together with our excellent partner for the joint venture , Kefren Capital Real Estate, who has a solid track record , and a long experience in asset management. Both Barcelona and Madrid are attractive centers of knowledge and innovation for us, which also have a consolidated macro situation compared to other European cities. We continue to look for new investment opportunities for our portfolio “, explains Jonathan Willén, CEO of Europi.

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