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Centurion buys 4 residential floors for €32M
11 June 2019 | Vanessa Sousa

Spanish REIT Centurion Real Estate closed the purchase of four residential floors of the building at number 21 Calle Velázquez, in Madrid, becoming the sole proprietor of the entire building.

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This operation alone cost 32 million euro, according to El Confidencial. In 2018 the REIT had negotiated the purchase of commercial areas (located on the ground floor) and the first floor of the same building with the Gancedo family for around 20 million euro. Thus, the purchase of the entire building cost 52 million euro.

These operations were the first Centurion carried out in Madrid. Until now, the company managed by Catalan pharmaceutical company Grifols had operated in Barcelona through another subsidiary, Aurea.

With this new acquisition – which was advised by CBRE -, the REIT intends to launch itself in the Spanish capital’s luxury housing market, mentions the same newspaper.