Transaction / Assets Seller Buyer € MM
Gas Natural Sells 4 Office Buildings In Madrid For €206M
28 December 2016 – Expansión
Gas Natural Fenosa has made cash from some of its real estate portfolio. The energy company has sold four corporate buildings in Madrid for more than €206 million, according to a statement filed with the CNMV.
Gas Natural, which will continue to occupy all of these buildings as the tenant on a rental basis, has generated net profits of around €35 million through the operation.
Specifically, the gas company has sold its headquarters in Madrid, located on Avenida de San Luis 77, to the Socimi Zambal Spain for €120 million, as Expansión reported on 24 November. It is a building with a surface area of almost 31,900 m2 and 979 parking spaces.
Similarly, Gas Natural has also closed an agreement with an institutional investor to sell three buildings located in Spain’s capital city, specifically those on Avenida de América, 38; Calle Antonio López, 193; and Calle Acanto 11-13.
The price to be paid by the buyer, whose identity has not been revealed, will amount to €86.5 million in total. The three buildings have a combined surface area of 25,100 m2 and 716 parking spaces.
Just like in the case of its Madrilenian headquarters, Gas Natural will continue to occupy these other buildings as the tenant on a rental basis.
Original story: Expansión (by J.D.)
Translation: Carmel Drake