• Transaction / Assets
  • Seller
  • Buyer
  • € MM

Colonial Shoots Up by 3% After Selling Agora Towers in Madrid

The Colonial real estate assets receive today on the stock market a confirmation of the sale of offices complex Agora Towers in Madrid for 73 million Euros, cancelling its bilateral debt related to the asset maintained with Sareb. The company´s shares surge by more than 3% in the continuous market up to 1.13 Euros.

(…) The Agora Towers is a complex of offices which covers 30.650 square meters of space and it is situated nearby the ring road M-30 of the capital, close to the  Arturo Soria Street exit, as Colonial informs.

The object consists of two office buildings of 14 floors, both more than 50 meters high and joined by a crystal structure. They dispose of common areas and a parking lot.

Colonial closes the sale of the building while it works with its banks on ending the refinancing a 3.486 million Euros financial debt which probably will be overcome in 2014.

(…) The real estate continues to value all the strategic options in order to cut the amount of the debt. Among others there are capital increase and partial or total divest in the participation it has in a French patrimonialist Société Foncière Lyonnaise (SFL).

Source: El Confidencial

43