Banco Sabadell has just finalized the sale of Parque Empresarial Avenida América 115, a business office complex that is one of the largest trading properties in Madrid and is situated adjacently to Ifema and the Barajas airport. The purchaser, London & Regional Properties group, paid about €117 million for the unit.
Solvia, the bank´s real-estate firm, built the complex on a plot formerly belonging to Reyal Urbis but seized by Sabadell due to debt unpayment. The bank took a decision to re-take construction and finish five 7-floor buildings jointly occupying 50.600 square meter area.
The transaction is a part of Sabadell´s divestment plan to shed the property stock through retail channel (…).
Original article: Cinco Días
Translation: AURA REE