(MADRID) - Hines, the international real estate firm, announces two new occupiers at Valdebebas 125, improving its commercial offering with the arrival of HM Hospitales and San Gloria.
HM Hospitales, the sanitary services provider, will take 1,000 square meters of space, and the coffee and bakery chain, San Gloria, will occupy 149 square meters. This follows, the arrival of Aldi who signed at Valdebebas 125, in September 2020.
In February 2020, Hines announced the signing of a forward purchase agreement with Acciona for the full acquisition of Valdebebas 125, on behalf of its flagship Hines European Value Fund 2 (HEVF 2). It is a 31,000-square-meter multifamily rental residential project in Madrid, located in one of the fastest-growing districts in the capital. Valdebebas is one of the most dynamic new residential developments in Spain. Construction started in the summer of 2020 by Acciona and is progressing well with expected full completion by the end of 2022.
The project consists of c.395 flats of varying sizes and will provide a home for c.900 people. Valdebebas 125 is located close to the train station and opposite the new Valdebebas Central Park. The community will include 7,600 square meters of landscaped spaces with private leisure facilities.
The supermarket chain, Aldi, will occupy part of the commercial area of the project, with 1,750 square meters for sales, a warehouse of almost 200 square meters, and a car park with a capacity for 80 parking spaces. In total, more than 50% of the retail space at Valdebebas 125 is now leased.
Vanessa Gelado, Senior Managing Director and Country Head of Spain, at Hines, said: "We are very pleased with the agreements reached with HM Hospitales and Santa Gloria. Together with Aldi, the Valdebebas 125 project continues to take great shape with more than 50% of the retail area now leased. We will continue to work to offer the best services to the future tenants of Valdebebas 125.”
Hines was advised by the IDEA Group on both transactions.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management valued at approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm has more than 171 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees investment assets under management valued at approximately €21.7 billion and provides third-party property-level services totaling 3.9 million square meters in Europe, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom. Visit www.hines.com for more information.
1. Includes both the global Hines organization as well as RIA AUM as of 30 June 2021.
About the Hines European Value Fund 2 (HEVF 2)
HEVF 2 is a euro-denominated, Luxembourg-based investment fund launched in December 2019. Managed by Hines, its objective is to acquire a portfolio of core-plus and value add profile commercial real estate investments throughout the major European markets on behalf of an institutional investor group. Whilst the fund has broad flexibility across sectors, the portfolio is largely focused in Logistics, Residential and Office usages.
HEVF 2 follows its predecessor HEVF 1 (2017 vintage) in continuing the flagship HEVF series for Hines in Europe, alongside the Hines European Core Fund (HECF) open-ended core flagship vehicle.