15 August 2017 – Mis Locales
The real estate asset manager, AEW, has purchased the property from the fund ASG for €50 million. It is the company’s fourth operation in Madrid after it purchased commercial premises and offices on Calle Serrano. It closed the other operation in Alcobendas, with the purchase of the Amura building.
The operation has been advised by ASG Iberia Advisors, CBRE and Uría Menéndez on the sell-side, whilst Herbert Smith Freehills has advised AEW Europe.
The company says that its strategy is focused on creating a portfolio of high-quality, profitable retail assets, which are well-located within Europe’s main urban centres.
The property in question will have a new tenant, the sports clothing and accessories firm Decathlon. As such, Decathlon will have two stores on Calle Fuencarral, given that last year, it opened a shop at number 147, near Quevedo, with a surface area of 145 m2.
Original story: Mis Locales
Translation: Carmel Drake