• Transaction / Assets
  • Seller
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Saint Croix Acquires Blanco Store On c/Goya For €15M

13 February 2017 – Eje Prime

Saint Croix, the Socimi owned by the Colomer family, has won the bid to acquire the Blanco store located on Calle Goya in Madrid. The company has spent €15 million on the premises, which several other investors, including Jesús Antúnez, also bid for. Antúnez came close to winning, but Saint Croix took the prize in the end.

The Socimi owned by the Colomer family (which also owns the real estate developer Pryconsa) has spent €15.25 million acquiring the property, which has a gross leasable area of 863 m2. In other words, it has paid a price equivalent to more than 17,600/m2. The company has also acquired two parking spaces as part of the operation.

Until now, the premises were owned by the real estate arm of the former owner of the Madrilenian chain Blanco (which specialises in fashion retail), namely, Inversiones Blasol. The company, whose administrator is Bernardo Blanco Moreno (son of the founder of the Blanco fashion chain) and which was constituted in 19991 with the corporate purpose of leasing real estate assets, filed for voluntary creditors’ bankruptcy in December 2014 in Commercial Court number 10 of Madrid. The company is now in the middle of negotiating its bankruptcy arrangement.

Inversiones Blasol has several other assets up for sale, including a store on Calle Pelai, 1 in Barcelona. That establishment has a commercial area of 200 m2. Jesús Antúnez also bid for those premises, and sources consulted by Eje Prime report that he offered €4 million.

According to the most recent results filed by the company, as at 30 September 2016, the Socimi had a portfolio comprising 209 assets, worth €339.26 million. They include retail premises, such as the Zara store on Conde de Peñalver (Madrid) and several supermarkets leased to Día; office buildings such as CLH’s headquarters on Calle Titán; and several four- and five-star hotels on Isla Canela (Huelva), managed by chains such as Iberostar, Meliá and Barceló.

Original story: Eje Prime

Translation: Carmel Drake

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