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Swiss Pictet closes first acquisition in Spain
02 October 2019 | Vanessa Sousa

Pictet's latest purchase is located in Madrid. This was the first asset the Swiss company acquired in Spain. The amount was not disclosed.

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On this transaction, the company’s head of real estate Zsolt Kohalmi commented that «we are very happy for having concluded our first purchase in the Spanish market and we are convinced that Castellana 62 offers multiple options to increase the buildings’ attractiveness and its potential value as an asset».

The asset located at number 62, Calle Castellana in the Spanish capital, contains two buildings: the main one with nine floors and the secondary one with only three floors. The larger building also has a shop and the smaller one offers office spaces. In total, the combined area of the two buildings is 7.900 sqm and they offer 110 parking spots, reveals Eje Prime this Tuesday.

The operation was carried out through the Swiss company’s real estate fund Elevation I and had the support of consultant CBRE, which advised the purchase. The identity of the seller was not disclosed by the newspaper.