EY Abogados and Andersen advise on the lease of a Ibervalles SOCIMI building to UDIT University
Ibervalles SOCIMI and Universidad de Diseño, Innovación y Tecnología (UDIT) have entered into a lease agreement for an office building located in Calle de Alcalá no. 506 (Madrid), with an approximate gross lettable area of 7,000 sq.m.
Ibervalles SOCIMI is a real estate investment company whose business model is focused on acquiring, refurbishing, managing, and divesting office buildings, hotels, and flex spaces in established Spanish areas. With a dedicated in-house team covering all areas, it manages a portfolio of over 340 million euros with a target to reach 550 million by the end of 2025.
UDIT is the Spain’s largest University Campus of Design and Technology with more than 2,700 national and international students.
The building that will house new UDIT campus is concluding an exhaustive refurbishment process and is scheduled to open in the academic year 2024-2025.
The transaction included the drafting and negotiation of the lease agreement and the relevant ancillary documents.
Advisors
EY Abogados has advised Ibervalles SOCIMI, with a team led by partner Iván Azinovic Gamo and manager Enrique Pérez García, from the real estate & construction practice.
Andersen advised UDIT with a team led by partner César Morales, together with Arnau Galera and María Chaves, senior associates at the real estate department.
