14 January 2019 – Expansión
The Spanish family office Mazabi has decided to sell an office building that it owns along the Prado-Recoletos thoroughfare in Madrid, next to the Congress of Representatives.
The property, which has a surface area of 1,400 m2, spread over the basement and six upper floors, is located on Calle Santa Catalina, 4. Mazabi acquired the property three years ago as a value-added investment, and during this period, it has renovated it and found a new tenant to now sell it for a profit.
Specifically, the property is soon going to be home to the headquarters of the US social platform Fever in Spain. The company, which has headquarters in New York, London and Madrid, has decided to relocate to these new offices in light of its major growth plans. Fever’s employees are expected to move in once the renovation and design work for the new offices has been completed, in a period of approximately nine months.
The operation, which has been brokered by the real estate consultancy Catella, has been closed for €6 million. The buyer is a Spanish family office (…).
Original story: Expansión
Translation: Carmel Drake