Mapfre RE, the reinsurance unit of Mapfre, has acquired an office building in Madrid, an investment through which the company seeks to diversify the portfolio with alternative assets.

The nine-story building is located at Calle María de Molina 54 in the Salamanca district and just a few meters from Príncipe de Vergara, with direct connections to both the A-2 highway and Adolfo Suárez Airport Madrid-Barajas. This is an area with great projection and major projects underway, with significant improvements in public transportation and infrastructure.

Specifically, the property has a total leasable office area of 8,854 square meters and has 47 parking spaces in the basements. Currently, the building has an occupancy of 100%.

“This acquisition reinforces our commitment to a diversified and sustainable investment strategy that seeks to balance our portfolio and take advantage of opportunities in the real estate market as a solid alternative to other financial assets,” says Carlos Díaz, General Manager of Mapfre Inmuebles.

Mapfre, through Mapfre Inmuebles, continues to seek investment opportunities in good locations in Madrid. It is also considering oppotunities in sectors other than offices. It also continues to search in the most premium areas of European capitals, and has top-tier partners such as Manova, Munich Re, or Swiss Life.