• Transaction / Assets
    building located at Calle Juan Camarillo 6
  • Seller
    Rex Spain
  • Buyer
    Madrid City Council
  • € MM

Madrid City Council Acquires Leased Building for €55 Million

16 December 2019 – The Madrid City Council has acquired the headquarters of its municipal computer service and the Mobility Management Centre, a building located at Calle Juan Camarillo 6, for 55 million euros.

The council subsequently exercised an option to buy when the asset’s owner, Rex Spain, notified it of its intention to sell. The building has an area of 17,546 square meters, along with 249 parking spaces, for which the municipal government had been paying about four million euros a year in rent.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner