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BMO buys building in Madrid for €20M
28 June 2019 | Vanessa Sousa

The building located at number 30 Calle Serrano in the Spanish capital was sold, this Wednesday, to fund BMO Real Estate for 20 million euro. The identity of the seller was not disclosed.

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The operation – advised by Ascana – was carried out through its investment vehicle Best Value Europe II which, according to information advanced by Eje Prime, premiered in Madrid last May, when it acquired a prime asset.

Around the same time, this vehicle – which now has an investment capacity of around 1.000 million euro, according to the same newspaper – also closed the sale of an asset located at Avenida da Liberdade in the Portuguese capital, for which it paid 15.2 million euro.

At the beginning of the year, BMO carried out its first acquisition in Barcelona, by buying a retail asset for 28 million euro from Bankia. This retail space is located at number 9 Plaza de Cataluña and is currently leased to Huawei.