- The company will remain as tenant in the building for the next twelve years, with an option on another ten years.
Ferrovial today signed a sale-and-leaseback agreement on its corporate headquarters building with a Spanish property investor. The deal amounts to 40 million euros.
Ferrovial will remain as a tenant for twelve years, with an option on two 5-year extensions. Ferrovial also has the right of first refusal if the buyer decides to sell the building in the future. Today’s agreement culminates a process that commenced in September when Ferrovial mandated a property manager to explore the market.
“We are satisfied with the deal since, given current market conditions, it enables us to take a profit on our headquarters in a transaction that is beneficial to both parties. We will continue to occupy the building and have options to repurchase it in the future,” said Alvaro Echániz, General Manager of Ferrovial Inmobiliaria.
Ferrovial’s headquarters is located in Madrid at Calle Príncipe de Vergara, 135. The 8,549 square meter building was inaugurated in 1989; it has seven floors above grade and two basement car parks with space for 100 cars.
The sale is aimed at optimizing Ferrovial’s cash flow by raising funds for investment in new business opportunities.
FERROVIAL
Ferrovial is one of the world’s leading infrastructure groups, with over 100,000 employees in 49 countries and operations in a range of complementary sectors including construction, airport and toll road management and maintenance, and municipal services. The company owns two of the top privatelyowned transportation assets in the world: Heathrow airport, in London, and 407 ETR, in Toronto. Over 60% of Ferrovial’s revenues are obtained outside Spain, fundamentally in OECD countries. The company, which is listed on the Madrid Stock Exchange, is a member of the Dow Jones Sustainability Indices and the FTSE4Good index.
