March 21, 2022

MMT Seguros closes the sale of its key real estate asset to BWRE in Madrid.

The transaction allows MMT Seguros to move forward with the implementation of its Strategic Plan for BWRE to develop an office campus that will become a new benchmark for workspaces in Madrid.

MMT Seguros has closed the sale of their real estate assets in Marqués de Mondéjar and Pedro Heredia in Madrid to BWRE, a real estate investment fund manager in the metropolitan area of Madrid.

These real estate assets, currently dedicated to offices and mechanical workshops and owned by MMT since 1957, have a built area of more than 10,000 sqm. They are located in a strategic area of the Spanish capital within the inner perimeter of the M-30 ring road.

With the closing of this transaction, MMT Seguros moves forward in the restructuring and execution of its Strategic Plan, focused on a period of consolidation and value creation for the future, and will improve the company’s portfolio of assets, as well as a significantly improve its solvency ratio.

The sale of the properties does not envisage a loss of services for MMT Seguros members, as the operation has been planned within a timeframe that will allow for the provision of these services to be combined with the move to a new location that will provide more modern facilities.

BWRE has indicated that it intends to develop a project based on the latest trends in high-end “Smart” corporate spaces. It aims to achieve ESG certifications including LEED, WELL and WIRED- all at platinum level. In addition, BWRE aims to build one of the first “Net Zero Carbon” buildings in Spain, with a timber frame and geothermal heating. Future users will also benefit from extensive outdoor spaces such as terraces, “plazas” and roof terraces of more than 4,000 sqm.

Deloitte’s Financial Advisory Real Estate team has acted as consultants to MMT Seguros. BWRE has been advised by Dentons.