Acquiring and managing a real estate asset with value-add potential requires expert knowledge and comprehensive capabilities to provide best-in-class services during the investment life cycle.
Colliers International advised our client defining a long-term strategy for the building, starting with a technical and commercial due diligence prior to the acquisition, in which we determined the changes to be made in a full renovation process, their cost and the reflection that those changes would have on the rental value of the real estate asset.
After the acquisition, Colliers International act as Property Managers for the 6,818m² building, undertaking the administration of the building, including management of suppliers, invoicing and preparation of estimations and budgets for recoverable and non-recoverable expenses.
Colliers International is also responsible for the construction management of a full renovation process aimed to take the building to a higher level, including LEED Gold Certification. The experience and capabilities of our team allowed the definition of a project planning that made possible to undertake the works with minimum disruption for the existing tenants. In addition, the scope of works agreed with the client is based on a maximum guaranteed cost concept that allows flexibility to the client while ensuring full control of the project.
Our view and strategy for Ramírez de Arellano 15 have made the difference; at Colliers we believe that the building provides bespoke office space to potential tenants and we are honoured to undertake the marketing of the building as co-exclusive agents.