The Castellana 200 For Sale Again

24/04/2014 – Expansion

Four months after putting the Castellana 200 complex up for sale, the process comes back to the drawing board. The property´s sellers, Reyal Urbis and its lenders (BBVA, Santander, Sabadell and Sareb), have decided to start again negotiations with the three bidding finalists: Anchorage, attending together with Spanish Rodex, Pimco that bid with Talus, and Perella.

At first, Anchorage and Rodex outbid other rivals with a €150 million offer. However, the partners failed to keep the deadline and have not paid the promised amount. The situation pushed the vendors to consider the second best offer proposed by Pimco that was ready to pay around €160 million. Unfortunately, the chances are that Pimco has withdrawn its binding offer and for that reason the negotiations are to re-start from the scratch. Although Pimco´s offer involved greater amount of money it was rejected because the fund claimed the property´s mortgage seized by the banks.


Original article: Expansión (by R. R. & S. S.)

Translation: AURA REE