Blackstone Continues Divesting and Sells ING’s Future HQ in Madrid for €180M+

27 February 2020 – Brainsre.news

The business complex, which forms part of the Hispania portfolio that the US fund acquired in 2018, has a gross leasable area of 35,000 m2 and 770 parking spaces.

The Dutch bank will be the only tenant of the property after signing an innovative long-term lease structure, according to reports from Europe Real Estate.

The operation, which exceeds €180 million, is the largest to date in 2020 involving a single property. It is the second divestment so far this year by Blackstone, the largest private landlord in Spain, which has put up for sale a selection of homes located outside of the large cities: 6,000 units in total.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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