5 March 2019 – Las Provincias
The fund manager Inbest Real Estate has formalised its purchase of an asset on Calle Colón in Valencia from El Corte Inglés. The property spans a commercial surface area of 7,600 m2, has 84 parking spaces and contains an office building measuring around 1,800 m2.
The deal forms part of an agreement reached between Inbest and the department store giant last August, which saw the fund acquire assets from ECI in Bilbao and Madrid for €184 million (for the three buildings).
Inbest was only created a year ago, but its portfolio already comprises iconic real estate assets worth more than €350 million, located on the main commercial thoroughfares of Madrid, Bilbao and Valencia.
Original story: Las Provincias
Translation: Carmel Drake