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Case Study

Venta de Tripark  Las Rozas, Madrid

Background
• Hines acquired the plot in 2006
• New business park: 32,700 m² of office area and 1.130 parking spaces
• High-quality office buildings with LEED® Gold Certification
• Jones Lang LaSalle have been advisors for Hines in leasing and sale processes since 2006.

Jones Lang LaSalle
• Jones Lang LaSalle let Building A accounting for 10,600 Sqm  to the company DIA (Group Carrefour), before the buildings were finished at the beginning of 2010.
• Jones Lang LaSalle has also let modules of Building B to different companies such as Hertz, Li-ning and Opodo.
• As soon as Building A was let with a long lease term, Jones Lang LaSalle began to market the opportunity.
• JLL contacted institutional and private investors, organised the visits, generated interest and raised offers for the building.

Results
• The Capital Markets team advised Hines during the whole sale process of Building A, including the due diligence, negotiations and closing of the deal.
• The purchaser of Building A, Rreef, the fund of Deutshche Bank, acquired the building in January 2011 at an initial yield below 7%

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