19 November 2019 – CBRE Global Investment Partners and IBA Capital announced their intention to sell the property located at Gran Vía 18, in Madrid for an estimated 70 million euros. The two firms acquired the asset in 2017 for €44 million and have since implemented a major renovation.
The building, which is on the corner of Calle Clavel, will become a mixed-use retail and office building. The retail side of the asset, which has a basement and seven above-ground floors, is large enough to accommodate a flagship store of a major retailer.
Original Story: El Economista – Alba Brualla
Adaptation/Translation: Richard D. K. Turner