Zaka Investments and Evok Hotels to Open Luxury Hotel Designed by Philipe Starck in Madrid

4 December 2019 – The consultancy Savills Aguirre Newman announced that it had sold the office building located at Gran Vía 20 in Madrid on behalf of Cajalmendralejo to the French firm Zaka Investments for 44 million euros.

The property, which was home to offices of the regional government, will be converted into a luxury hotel designed by Philipe Starck. The Parisian firm Evok Hotels Collection will take over the management of the hotel, its first in Spain.

Cajalmendralejo originally acquired the building, which has eleven floors and 4,500 square meters of above-ground surface area, in 2014, when it paid 20 million euros for the asset at a public auction.

Original Story: La Vanguardia / Europa Press

Adaptation/Translation: Richard D. K. Turner

Idom Hires Savills to Sell its Headquarters in Madrid and Bilbao

3 December 2019 – The Basque engineering firm, Idom, has given a mandate to the consultancy Savills Aguirre Newman to sell its headquarters in Madrid and Bilbao. The firm intends to stay on in the offices, in what is known as a sale and leaseback operation.

The firm’s headquarters is located in the neighbourhood of Montecarmerlo in Madrid, while the property in Bilbao is on the Deusto canal in front of Zorrotzaurre.

Idom is reportedly negotiating with two investment funds. The sale could potentially be worth more than €80 million.

Original Story: Expansión – Rebeca Arroyo / Marian Fuentes

Adaptation/Translation: Richard D. K. Turner

Java International Sells Silvercode to Dothan for €144.5 Million

19 November 2019 – The US investment fund Dothan acquired the socimi Silvercode from Java International for 144.5 million euros. According to a statement to the MAB, the firm bought 97.32% of the company’s outstanding shares at 2.05 euros each.

Silvercode controls the Castellana 200, an office and retail complex in Madrid. Once Dothan manages to acquire the rest of the shares, the firm intends to delist the socimi from the stock market.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Telefónica Sells Headquarters on Barcelona’s Plaça de Catalunya for €100 Million

19 November 2019 – The Spanish telecoms firm Telefónica has sold its historic headquarters located at the corner of Plaça de Catalunya and Portal de l’Àngel to the Basque executive Daniel Maté for one hundred million euros.

Telefónica had announced its intention to sell the asset in March through a private auction without the intermediation of any real estate consultants.

Telefónica will continue to lease the building for the moment. The Movistar Center operates on the first floor, with offices on the rest.

Mr Maté had also already acquired a portfolio of four buildings from Telefónica a few years ago for a total of fifty million euros. The executive converted the properties, in Madrid, Barcelona and Santander, into residential flats.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Catalana Occidente Acquires Turn-Key Office Building in Las Tablas, Madrid

18 November 2019 – Metrovacesa announced that it had sold a turnkey office building in the Las Tablas area of Madrid to the Catalana Occidente group for an undisclosed amount.

The property Catalana Occidente is acquiring will have a total surface area of 11,250 square meters, with six above-ground floors and two basements with enough room for about 300 parking spaces. The building, the architecture studio BOD designed, will have a highly-energy efficient, avant-garde design. Metrovacesa expects to deliver the finished property in 2022.

The operation follows the insurance group’s strategy of acquiring prime assets for its real estate investment portfolio. The firm focuses on office buildings located in prime areas of Madrid and Barcelona.

Original Story: Cinco Dias – Alfonso Simón Ruiz

Adaptation/Translation: Richard D. K. Turner

Seguros Pelayo Acquires Office Building in Alcobendas from Hispania

18 November 2019 – Seguros Pelayo has acquired the office building located at Avenida Bruselas 15, Alcobendas, for more than 11 million euros from Hispania.

The building, which is fully occupied, has an approximate surface area of 3,500 m2 and recently underwent a renovation. Alcobendas, a city on the outskirts of Madrid, has an array of established firm operating in the area. The area also has good transport links, with easy access to the A-1 and the M-30 and M-40 ring roads, a few minutes from the centre of Madrid and the Barajas International Airport.

Original Story: Idealista – Custodio Pareja

Adaptation/Translation: Richard D. K. Turner

Renta Corporación Acquires the Campana Office Building in Barcelona for €22 Million

11 November 2019 – Renta Corporación has acquired the La Campana building, the headquarters of Barcelona’s General Traffic Directorate (DGT) and Commercial Registry for 22 million euros. The firm bought the asset from the Mas Ferrer, Toyos and Ferrero families.

The office building is located on Gran Via de les Corts Catalanes in Sants-Montjuïc next to the Ciutat de la Justícia, the Plaça Europa and the BCN Fira complex.

The 11-floor building has ​​more than 8,000 m2 of surface area.

Original Story: Idealista – Custodio Pareja

Adaptation/Translation: Richard D. K. Turner

Boissée Finances to Build a Luxury Hotel in Madrid

1 November 2019 – The French hospitality group Boissée Finances has acquired an office building on Calle Fomento in Madrid from Princeton Investments for €45 million. Boissée plans to subsequently convert the asset into a 155-room luxury hotel.

The building has 10,700 square meters of surface area and is located on the Plaza de Santo Domingo, and is thus quite close to the Gran Vía. The hotel will have a large rooftop pool and terrace, therefore overlooking the Royal Palace and with a good view of the mountains.

Original Story: Expansión – Rebeca Arroyo

Adaptation/Translation: Richard D. K. Turner

Catalana Occidente Acquires Office Building in Madrid from Kefren Capital

30 September 2019 – The insurance group Catalana Occidente has acquired a five-storey building on Calle de Méndez Álvaro, in Madrid, from Kefren Capital for an undisclosed amount. The co-working firm Talent Garden is currently leasing the building.

The property has 3,600 square meters on five above-ground floors and just over 2,000 m2 below ground level, with 59 parking spaces.

Original Story: La Vanguardia / EFE

Adaptation/Translation: Richard D. K. Turner