Colliers Advises Merck on Sale of a Madrid Office Portfolio

17/12/2014 – Real Estate Press

Colliers International has assisted pharmaceutical firm Merck in a deal on a portfolio of offices located in Madrid. The branches, some leased and some vacant, were both sold to investors and buyers oriented to converting the properties into their central headquarters.

The asset package has been gradually sold off throughout 2014. The sale allows Merck to meet its real estate investment targets based on divestment from non-core assets and obtaining resources for its main activity.

In this case, we have conducted an asset valuation combined with strategic analysis in order to adapt the strategy for Merck’s properties to the company’s needs aligned with situation on the market. Coincidentally, on the other hand, there are more and more firms that opt for buying offices for their own use instead of renting a space. The trend boosts the office market, assured Mauricio Guerrero, Head of Capital Markets at Corporate Real Estate Services department.

The team of CRES provides real estate consulting services to clients looking for properties in Spain and Portugal, supporting them from the strategy definition until the Facility Management phase.

Merck, a Germany-based multinational firm whose name is recognized in the world’s pharmaceutical and chemical industries, was founded in 1668.

Driven by development innovations leading it to success, today the company employs 40.000 experts in 67 countries all around the globe.

 

Original story: Real Estate Press

Translation: AURA REE

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