Serratosa Family Sells Alameda Building in Centre of Valencia to Loreto Mutua

2 October 2018

Grupo Zriser and Nefinsa reached an agreement with Loreto Mutua to sell the 11,000-m2 office building, which is located in the prime area of ​​Valencia, the capital of Turia.

The Serratosas just sold an iconic building Valencia. The family, through Grupo Zriser and Nefinsa, transferred the ownership of the Alameda building to Loreto Mutua. The asset, located in the centre of Valencia, has 11,000 square meters of offices.

Located on Antiga Senda de Senent Street, the property was acquired by the Serratosas in December 2009, when the family purchased it from Acciona Inmobiliaria. Currently, the building is completely occupied, in part due to its location, in one of the best office zones in the capital of Turia, according to the newspaper Expansión.

The sale of Alameda is part of Grupo Zriser’s strategic plans. The company is hoping to take advantage of the recent boom in the real estate market to sell some of the buildings in its portfolio.

Zriser’s most recent acquisition took place in December of last year when the group bought the former headquarters of Caja Madrid in Valencia from Goldman Sachs.

Original Story: EjePrime

Translation: Richard Turner

Grupo Zriser Sells the Alameda Building in Valencia

2 October 2018 – Valencia Plaza

Grupo Zriser, the investment arm owned by Ana and Pablo Serratosa, has sold the Alameda Building, located on Calle Antiga Senda de Senent in València. The buyer is the fund Loreto Mutua, previously known as Montepío Loreto, and linked to workers in the aviation sector, and a historical shareholder of the now extinct Banco Valencia.

The building, which was acquired by Grupo Zriser from Acciona Inmobiliaria in December 2009, has a surface area of more than 11,000 m2 dedicated in its entirety to offices and parking spaces. The building is fully occupied and is located in one of the premium areas of the city for business activity.

This operation, which according to real estate sources has been brokered by Olivares Consultores, forms part of Grupo Zriser’s strategic plan, which considers both the selective divestment of buildings and corporate stakes, as well as the acquisition of industrial companies, real estate assets and technologies.

“The Alameda Building is one of the most iconic office buildings in Valencia, located in one of the best business districts”, said Pablo Serratosa, Chairman of Grupo Zriser. “Moreover, it has a very well-diversified tenant base by solvency and commitment to the building; it is undoubtedly a great asset” (…).

In recent years, Grupo Inmobiliario Zriser, founded in 2007 following the departure of Ana and Pablo Serratosa from Nefinsa, has become one of the major real estate companies in the city by volume of gross leasable area. Its tenants include local companies and multinationals alike (…).

Original story: Valencia Plaza (by Estefanía Pastor)

Translation: Carmel Drake