Transaction / AssetsMoraleja Building One SellerChameleon (Blackstone) BuyerGrosvenor € MM80
Grosvenor Purchases the MB One Building in Madrid for €80M
15 April 2019 – Eje Prime
Grosvenor has reached an agreement with Blackstone to acquire the MB One building, known for housing Citi’s headquarters, in La Moraleja (Madrid) for €80 million.
The US fund currently owns the property through Chameleon, a company that has put all of its assets up for sale.
MB One has a surface area of 22,129 m2, distributed over four modules and five storeys.
This represents Grosvenor’s return to the office market and accompanies its activity in the luxury residential market in Spain, where it plans to invest €200 million in projects in the neighbourhoods of Salamanca and Chamberí.
Original story: Eje Prime
Translation/Summary: Carmel Drake