Colonial has acquired an office building located in Madrid’s CBD on Calle Santa Engracia. The investment offers 13,430 sqm of space along with 180 parking spots and is currently in 95 percent leased. The cost of the deal was not disclosed. Colonial is planning to refurbish the building in order to improve its competitiveness and energy efficiency. With this acquisition, the company has completed the purchase of four top quality properties in Spain’s capital. At the moment, Colonial has a portfolio of 19 office buildings in the centre of Madrid.
