9 October 2019 – The firm Vitruvio announced that it had acquired 35% of Fidelges S.L. for €6 million. Also, the company stated that it would propose a merger by absorption with the latter firm. The deal, valued at a total of 16.5 million euros, will allow Vitruvio to acquire three properties in central Madrid at an average cost per square meter of €2,700.
The three properties are located in prime areas of Madrid, at Calle Duque de Rivas 4, Calle Aguirre 1 and Calle Tribulete 23. The buildings will undergo an investment of €4.5 million in upgrades and renovations to convert them into residential developments.
Original Story: Idealista
Adaptation/Translation: Richard D. K. Turner