• Transaction / Assets
    plot of land at Calle José Basbastre 10
  • Seller
  • Buyer
  • € MM

Serprocol Acquires Plot of Land in Madrid for €3 Million

19 November 2019 – Serprocol has finalised its acquisition of a plot of land at Calle José Basbastre 10 in Madrid for more than three million euros. The real estate cooperative plans to build a 26-unit development with two to three bedrooms and an underground garage.

The firm obtained financing from Stoneweg, which recently launched a €50-million fund for financing real estate deals.

Sales for the flats at Calle José Basbastre 10 began during the last quarter of 2018 and are expected to continue through to the second quarter of 2020. By the end of last month, Serprocol had already sold 69% of the flats (18). The 5-floor apartment building will have a shared solarium and spa on the terraced roof.

Original Story: Eje Prime

Photo: Idealista

Adaptation/Translation: Richard D. K. Turner