• Transaction / Assets
    former warehouse in Tetuan, Madrid
  • Seller
  • Buyer
  • € MM

Dazia to Redevelop Warehouse into Apartment Building in Madrid

30 July 2019 – Richard D. K. Turner

Dazia Capital, owned by Daniel Mazin, the heir to Tryp Hotels, has finalised the acquisition of a former industrial warehouse on Calle Anastasio Herrero in Madrid. The building had been used as a lumberyard until its closing several years ago.  

The company plans to apply for a change of use for the property and redevelop it into a 32-flat housing development. The warehouse has about 3,000 square meters of surface area. Construction is expected to begin in 2021, through Dazia’s subsidiary Darya Homes.

The acquisition was made through Dazeo, a joint venture between Dazia and the French fund Eurazeo Patrimoine. Between the land and its subsequent redevelopment, the firm will invest a total of 8.5 million euros.

Original Story: El Confidencial – Elena Sanz