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TPG and Baech Buy Two Buildings in Madrid for 23.6 Million Euros

The Community of Madrid´s regional Government organized an auction of six buildings occupied by the administration in November. The aim was to gain at least 78 millions. Finally, the bidding organized by Addmeet managed to sell only two units, located in the Gran Vía Street, number 3 and 18. In spite of that, it has excelled the initial price by 27.4% and by 18.98%, respectively.

Gran Vía 18 was adquired by an American fund TPG for 18.6 million Euros (…). A Spanish family office Baech Bienes purchased Gran Vía 3 for 8.06 millions, while the initial price was 6.3 million Euros. Both buyers were assisted by Aguirre Newman.

 

Source: Expansión