• Transaction / Assets
    Offices on c/Claudio Coello, Madrid
  • Seller
  • Buyer
    PSN
  • € MM
    3.45

PSN Buys a Floor of Offices on c/Claudio Coello in Madrid for €3.45M

31 January 2019 – Eje Prime

PSN is continuing to grow its asset portfolio in Madrid. The Socimi has just closed the purchase of an office on Calle Claudio Coello, in the heart of the capital’s Salamanca neighbourhood for €3.45 million.

Specifically, the company has purchased a floor of offices (the right and left sides) spanning 570 m2 in total with three parking spaces in the same property. The operation has been carried out with a contribution of €1.25 million from own funds and a mortgage of €2.2 million.

The mortgage loan has a duration of twelve years and carries a fixed annual interest rate of 1.7%, according to explanations provided by the company in a statement submitted today to the Alternative Investment Market (MAB).

Moreover, the group has subrogated the lease contract signed for the right-hand office, which is due to expire in October 2024. The left-hand office, by contrast, is vacant.

PSN is whereby adding a new asset in the Madrilenian market, where it acquired a commercial premise in Collado Villalba for €1.3 million last year. During the last year, the company has also purchased two premises in Santiago and Tenerife, for €1 million each, as well as an office building in Sevilla and a hotel in Salamanca for €3 million.

The company, which debuted on the MAB in December 2017, owns a portfolio comprising more than thirty assets including offices, commercial premises and parking spaces in 21 cities across Spain and Portugal. The company expected to close 2018, its first full year on the stock market, with profits.

Original story: Eje Prime

Translation: Carmel Drake

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