DOMO ACTIVOS, the REIT promoted by DOMO GESTORA, has purchased a new asset. the Metro Headquarters Office Building located on Cavanilles street, in the Retiro district of Madrid. The REIT bought it for 14.1 million euros from the cooperative that previously purchased it.
The REIT purchased the property, consisting of the existing office building above ground, with a constructed area of 7,500 m2 distributed over 7 floors, as well as rights to the project to expand the current building, which includes office, retail and parking space.
The existing administrative and office building is occupied by Metro employees, who will vacate it once construction of this agency’s new headquarters, on Avenida de Asturias, next to Plaza de Castilla, is finished. Work is expected to be completed in the summer of 2020.
The purchase of this asset comes after Domo Activos closed its third capital increase last May, which secured more than 16 million euros.
Domo is managing the construction of the new headquarters
In addition to purchasing the Metro office building, DOMO GESTORA is also overseeing the construction of the new Metro headquarters, which is designed to be a Near-Zero Energy Building (NZEB) that will incorporate sustainable elements, such as 56 geothermal wells and a rainwater recovery system to irrigate the green areas of the complex. Once its new headquarters is complete, the second largest metro network in Europe plans to add new buildings and facilities to the same plot to turn it into a Comprehensive Transportation Center.
DOMO ACTIVOS, the leading REIT developer on the Spanish market, is not limited to acquiring finished urban properties suitable for immediate rental. Its competitive edge relies on creating added value by constructing the buildings on purchased plots or by remodeling buildings, in order to maximize profits to obtain and distribute them among its shareholders.
By the end of 2019, the DOMO SOCIMI REIT will place the 80 homes it is developing on the rental market, after buying a plot for residential use in Madrid. The construction work, undertaken by the construction company Ferrovial, is in the final phase.
The Company anticipates new investments in coming months and is studying assets in various parts of Spain in which to develop rental buildings.