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Prada buys Bankia’s retail asset for more than €59M
06 May 2019 | Vanessa Sousa

Prada’s proposal for the retail asset located at the heart of Madrid, owned by Bankia, went ahead.

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The financial institution fulfilled the commitment to sell the building for more than 59 million euro, which will be finalized with the support of Haya Real Estate.

The 908 sqm three floor building is located at number 64 Serrano street in Madrid, according to Eje Prime. When the operation is finalized, it will be occupied by brands from the Prada group, like MiuMiu and Car Shoe.

The building is currently occupied by Bankia’s offices, which only has 6 months to move out.

This transaction was made when several investment funds, real estate groups and family offices showed interest in the asset, namely Iberfin and BMO.  Its privileged location is one of the asset’s main attractions, according to the same newspaper.