Union Investment sells Pórtico office building in Madrid

Union Investment sells Pórtico office building in Madrid

 

The building, built in 2005, has 21,000 m2 and includes 413 parking spaces. It was acquired in 2008 by Union Investment and held in the portfolio of Unilmmo: Deutschland. CBRE, which negotiated the transaction on behalf of the seller, states that "the sale price is above the most recent expert valuation." The building was released for sale for an amount close to €130 million.

Pórtico is a seven-storey multi-user building located on Mahonia street 2 in Campo de las Naciones area, which was almost completely rented at the time of its sale. Some of the tenants of the building are the liquor producer "Beam Suntory" and the company "Pullmantur Cruises". Pórtico was designed by architects SOM of London and Rafael de La-Hoz. The real estate has a BREEAM Very Good certificate.

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