February 21, 2022

Blue Coast Capital sells ‘Ancora 40’ to Deka Immobilien.

• Ancora 40 is the headquarters of the food delivery service Just Eat, which has a long-term lease in place.

Blue Coast Capital has sold Ancora 40, an office building in Méndez Álvaro — one of Madrid’s most sought-after areas for investors and companies alike — to a real estate special fund managed by Deka Immobilien. The property has been leased to the food delivery service Just Eat since last February, through a deal on which JLL advised. Just Eat, one of the leaders in the Spanish delivery market, has its headquarters in the building.

Investment group Blue Coast Capital was inspired by London’s avant-garde architecture in its development of Ancora property, reinventing the workspace to provide bright, inspiring spaces which encourage new ways of feeling, working, motivating, collaborating and creating. The newly constructed building is a BWRE development spanning 7,215m² with capacity for more than 600 people. It boasts LEED Gold sustainability certification and is among the best-equipped office buildings for the future. It combines office space with technology, efficiency, safety and respect for the environment.

“Ancora 40 is our second class A industrial building conversion project, which addresses new rental office trends. The sale of Ancora completes our Tango project, which includes both the sale of Ancora 40 and Tánger 66 in Barcelona,” said Fraser Denton, Managing Director of European Real Estate at Blue Coast Capital.

Ignacio Sobrino, Director of Offices at JLL, said: “This transaction reflects the unwavering, significant investor interest in the office sector, especially in quality, well-located assets. The renovation project at Ancora 40 was also able to respond to latent demand from technology companies seeking unique spaces, which play a key role in attracting and retaining talent.”