Azora launches ML28 Madrid urban hub, the first urban campus in the center of Madrid



• ML28 is an exclusive and unique office campus in Madrid, a strategic location within the Cuatro Torres district, a key area of influence.
• The office complex will exceed 16,500 m2, including a main building and an auditorium of 619 m2, which will be fully connected to the main building, but for independent use.
• Designed to accommodate top-tier companies seeking to differentiate themselves with the quality of their spaces, with a people-centered, efficient, well-connected approach, and extensive green areas in the city center.
• The project has preserved the architectural value of the complex - conceived in the 1980s by Alejandro de La Sota as a key piece of Spanish modern architecture - while adapting it to contemporary needs.

Madrid, 8 May, 2024 – Azora, the Madrid-based European real estate investment manager, kicks off the marketing of ML28 Madrid Urban Hub, the first urban campus in downtown Madrid, located in one of the most dynamic areas of the capital today, the Four Towers and Madrid Nuevo Norte. Leading real estate advisor CBRE will exclusively market the project, expected to be completed by mid-2025.

Designed for new collaborative and flexible work models, the asset will be positioned as the only urban office campus in the center of Madrid aimed at top-level companies seeking to differentiate themselves to attract and retain talent, with a people-centered approach. The facilities are located in a unique environment surrounded by extensive green areas of more than 6,000 m2. The campus will also have LEED Platinum certification.

In total the size of the project will exceed 16,500 m2. It will include a main building with up to four floors, totalling almost 16,000 m2, and a two-floor auditorium building of 619 m2 which will be fully connected to the main building, but for independent use, with a versatile structure. The building’s modern and functional architecture will allow it to be transformed according to the requirements of the tenants, and will be characterised by the extension of the office floors, up to 4,500 m2, the largest within the M-30 in Madrid. The complex will have a capacity for 2,800 people.

Strategic location for business attraction ML28 Madrid Urban Hub is located in a privileged site that aspires to become an attractive location for both investors and future occupiers with new developments such as Madrid Nuevo Norte, which will lengthen the Castellana axis of the city. It is also a unique location with great potential for activities related to Life Sciences, education and technology, which are currently experiencing rapid growth.

ML28 Madrid Urban Hub will be characterised by open and modular spaces designed for different uses: library, auditorium, interactive activities, research, collaborative work, private offices or meeting rooms. Located just a few minutes from Madrid Chamartín Clara Campoamor Railway Station and with direct access to the airport, it will have excellent connections to other parts of the city by public and private transport and will stand out for the wide range of services, amenities and green spaces in the surrounding area.

Signature architecture, but adapted to contemporary needs

The architectural firm in charge of the project is Ruiz Barbarín Arquitectos, which has maintained the architectural and signature value of the complex - conceived in the 1980s by Alejandro de La Sota as a key piece of modern Spanish architecture - but adapted it to contemporary needs. The innovative design of this project stands out for its spaces surrounded by courtyards and skylights that allow abundant natural light to enter. The exterior access combines functionality and design, inviting interaction and collaboration.
The complex will also have a garden floor, with outdoor spaces that can be adapted to host events, conferences and meetings, as well as a canteen with direct access to the exterior, a wellness area and a pickleball court, among other amenities.

Jose Mittelbrum, Senior Director A&T Offices CBRE Spain, comments "projects such as ML28 Madrid Urban Hub are set to revolutionise the office market in the capital, at a time when companies are finding in their workspaces an ally to attract and retain talent. These are spaces designed for collaboration and interaction, where connections and surrounding services are of great importance."

Javier Rodríguez Heredia, Managing Partner of Azora's Real Estate Division, remarks: "Azora has spent 20 years identifying and transforming assets with high potential within major cities. ML28 is a prime example of a unique building with high architectural value and extensive green areas in the city center."

In the first half of 2023, Azora launched a European multi-strategy vehicle with equity of 270 million euros and an investment capacity of 500 million euros. The fund has already completed 75% of its investment, and among its asset portfolio is the office complex at Monforte de Lemos 28, the Hotel Chamartín, a development site in Valgrande (Alcobendas), and a data center in Madrid. This multi-strategy vehicle was created with the aim of investing flexibly in the real estate sector of Southern Europe and capitalizing on various arising opportunities, including in traditional segments such as land development and office repositioning, as well as emerging asset classes like residential rental development and data centers, among others.