ARGIS buys Johnson & Johnson’s former Campo de las Naciones site for flex living

The real estate manager ARGIS has launched its second investment fund, ARGIS Living Fund II, with an endowment of 250 million euros. With this capital, the company seeks to expand its presence in the sector through strategic acquisitions in Madrid.

The fund starts its activity with the purchase of three key assets, with an initial investment of 100 million euros to develop more than 350 units. These include the conversion of the former Johnson & Johnson headquarters in Campo de las Naciones into a complex with more than 250 flex living units after an investment of 51 million euros.

In Sanchinarro, the firm will develop ARGIS Encinar, a space with 77 units for offices and flexible uses, while in Pozuelo de Alarcón it is marketing an exclusive residential project of 43 homes on Avenida de Europa, with terraces, penthouses and gardens, as well as common areas with a swimming pool and gymnasium.

In addition, in May, ARGIS put up for sale the largest operational portfolio of coliving in Madrid: seven buildings in Valdeacederas (Tetuán) with 143 units, valued at around 30 million euros. Of these, 110 are operational under Flipco! management, while the rest will be delivered by the end of 2024.

With these operations, ARGIS continues to consolidate its position as a key player in the flex living sector in the capital.

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