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Madrid auctions six properties to obtain more than 78 million Euros.

The government of Ignacio González will auction on the 11th November trade premises and five office buildings rented to the Regional Government, The pension funds are the main candidates for the acquisition.

The Community of Madrid (CAM) has decided to speed up its disinvestment plan of real estate assets and put a new lot of properties on the market. After closing the sale of a package of 3000 subsidized homes on a rental scheme to Azora and Goldman Sachs for 201 million Euros, the Government presided over by Ignacio González has put two new proposals on the market: the commercialization of 22 developments of subsidized properties, launched in September, and the sale of five office buildings and trade premises, a few days ago. It has decided to sell these properties and stay as a tenant (sale & leaseback) through an auction. It will take place on the 11th November in the headquarters of the CAM.

The regional government has given one week for those interested to present their proposals. The prices of all buildings are in line with the value of the areas where they are located. The yields range from 8,26% to 6,62%. (…)