Wednesday, 22 April 2026
HIH Invest Real Estate has sold the “Canalejas” office building in central Madrid to a buyer backed by Spanish private capital. The asset, located at Calle de Alcalá 6, comprises 1,013 sq m of lettable space and is fully leased on a long-term basis to Banco Santander, which operates a flagship branch at the property.
The historic building, originally constructed in 1902, underwent extensive refurbishment completed in 2020. HIH Invest acquired the asset as part of a forward deal linked to the broader Canalejas regeneration project for one of its institutional funds.
Matthias Brodesser, Head of Transaction Office International at HIH Invest, said: “We originally acquired the property as part of the wider regeneration project in Canalejas, which has contributed significantly to the revitalisation of the surrounding area. As the fund approaches the end of its term, this sale enables our investors to achieve an excellent return through a well-timed and strategically executed exit. At the same time, the new owner benefits from the property’s high appeal, its prime location and the security of a long-term lease with a first-class tenant.”
Sebastian Pende, transaction manager at HIH Invest, added: “The transaction underscores the continued strong demand for high-quality retail and office properties in central locations in Madrid. The Spanish property market remains robust, particularly in the prime segment, driven by solid demand from tenants and investors coupled with limited supply.”
The property is located near Puerta del Sol, one of Madrid’s main commercial and transport hubs, known for its high footfall, strong retail presence and historic architecture.
CBRE acted as exclusive sales agent and carried out technical and environmental due diligence. Andersen provided legal advice, while KPMG advised on tax matters.
