• Transaction / Assets
    Residential building (Madrid)
  • Seller
  • Buyer
    Teleno Real Estate
  • € MM
    16

Teleno Real Estate Buys a Residential Building in Madrid for €16M

12 June 2018 – Idealista

The real estate consultancy firm BNP Paribas Real Estate has advised on the sale of a residential building in the north of Madrid, worth €16 million. The property comprises 59 homes, 42 storerooms and 96 parking spaces. Teleno Real Estate is the company that has acquired the asset; it has been advised by Jesús Segado and Javier Escudero, partners of Smart Invest.

The asset is located in the north of Madrid. The firm that has undertaken the purchase, the former Tauro Real Estate, invests in the purchase of real estate assets and is led by José María Xercavins. Tauro Real Estate was acquired in April by the Israeli millionaire, Teddy Sagi (pictured above), who paid €180 million for the company. Currently, it owns 600 flats in Madrid and Barcelona.

David Forteza del Rey, Head of Residential Investment at BNP Paribas Real Estate, explains that “these types of operations confirm the continued dynamism of the residential market, which is still offering attractive returns for investors in a low-interest rate environment”.

Last month, the consultancy firm also advised the investment fund Eurostone on the purchase of two real estate assets, in that case in the upper area of Barcelona, on Calle Tuset and Calle Aribau. Those properties have surface areas of 4,786 m2 and 7,461 m2, respectively. The first is a residential asset with a commercial premise on the ground floor. The property on Calle Aribau contains homes for residential use and tourist rental (…).

Original story: Idealista 

Translation: Carmel Drake

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