29/07/2014 – El Confidencial
Alfredo Coto, a butcher´s son who owns the largest supermarket chain in Argentina called Coto Supermercados, decided to invest in the Spanish real estate.
Last week, he bought a building in Madrid, situated at 16 Paseo de la Castellana street and rented by ICEX as its main headquarters. The businessman paid around €20 million for it to Renta Corporación led by Luis Hernández. The firm will now manage the building assigned for triple use (office, commercial and hotel) and prepare it for repositioning.
This way, the Coto family joins other South American investors who arrived at Spain to enjoy bargain property prices in regard to exchange for their currency. So far, Mexicans (IBM´s premises), Chileans (2, Plaza de la Lealtad square) and Venezuelans (the M-40 shopping mall) have courageously bet on Spain.
Orginal article: El Confidencial (by Carlos Hernanz)
Translation: AURA REE