ECIJA advises Atrea Real Estate on the acquisition of the iconic building Los Cubos in Madrid for €91 million

The transaction, which involves the purchase of the owner company of the asset from Henderson Park, is one of the most important deals in the Madrid office market so far this year. The private contract has already been signed, while the public deed is scheduled for June 2026.

Built between 1976 and 1981, Los Cubos is one of the most recognisable buildings in the capital for its brutalist architecture. It has a surface area of 19,600 m² spread over nine floors, has LEED Gold sustainability certification and hosts key tenants such as Konecta, Takeda and Kyndryl, which has its Spanish headquarters in the building.

ECIJA's advisory has been comprehensive, covering not only the acquisition of the owner company of the asset, but also the complete structuring of the transaction: the establishment of the special purpose vehicle (SPV), the raising of capital from a group of private investors, the partnership agreement and the management contract, among other aspects.

ECIJA's multidisciplinary team was led and coordinated by Iván Azinovic, partner in the Real Estate Law area, with the joint participation of the Tax, Corporate/Commercial and Urban Planning areas, reflecting the firm's ability to lead complex transactions that require a transdisciplinary approach.

ECIJA's team included Iván Azinovic, partner of the Real Estate practice; Francisco Iniesto, partner of the Tax practice; and Víctor Moralo, partner of the Sustainability and Environment practice, along with Carmen Ciurana, senior associate of the Corporate practice; Álvaro Jiménez-Díaz, Juan González Mateo and Guillermo Martín, associates of the Real Estate practice; Alba Gutiérrez, senior associate of Tax; and Juan Carlos Cardoso and Jaime Peñarrubia, principal associate and associate in sustainability and environment, respectively, under the coordination of the Real Estate department.

In the transaction, Henderson Park was advised by Rivoli AM, CBRE, Cushman & Wakefield, Ashurst and Deloitte, while Atrea Real Estate was advised by EY and PwC, in addition to ECIJA.