8 February 2019
With the deal, Santander continues its policy of the divestment and reallocation of its portfolio of real estate assets, while trying to recover the ownership of the ‘Financial City.’
Santander has sold Acciona the complex of buildings that the bank owned on calle Mesena in Madrid, and which once housed the former headquarters of Banesto and until a year ago was the headquarters of Santander Spain, according to sources close to the transaction.
It complex comprises a set of seven buildings with a total area of about 104,000 square meters, located in a residential area north of the city.
With this operation, Santander continues its policy of the divestment and reallocation of its portfolio of real estate assets, while trying to recover ownership of its ‘Financial City’, located in Boadilla del Monte, and where it has its headquarters. The bank recently appealed the courts’ decision to award the complex to the brothers Simon and David Reuben.
For its part, the deal marks Acciona’s first major acquisition after it reactivated its commitment to the real estate sector two years ago.
Original Story: El Confidencial
Translation: Richard Turner