According to Spanish Real Estate, the value of the property, after the transformation and reform performed since the vendors acquired it, is around € 80 million.
This shopping center in Madrid has 15,000 m2 of commercial area, 225 parking lots, double access from Paseo de la Castellana and Serrano street, and is totally reformed.
It had several owners in the last years. IBA Capital Partners acquired the historical building in Madrid, by the end of 2013, to the real estate Reyal Urbis for 100M, including an office complex at Avenida San Luis. It then transferred these assets to Zambal Socimi. In February last year, CBRE Global Investors took the property of the asset, next to a commercial building at Preciados street.
This operation is part of the co-investment strategy of Banca March, through which clients may be involved in the investment products and be shareholders of the company owning the real estate.
Madrid’s Gran Vía 18 will have a new commercial building with 4 floors and a surface area of 5,500 m2, after being acquired by IBA Capital and CBRE GI to TPG fund.
CBRE Global Investors has reached an agreement to acquire a 70% share in the H2O Rivas shopping centre in Madrid. The final price has not been made public.
The international managers of assets and real estate CBRE Global Investors, “have a capacity this year for an investment of more than 500 million euros and this will be carried out as we f...
CBRE GI puts shopping center Berceo up for sale, in Logroño, for €105 million.
Arcano's real estate subsidiary purchased recently a store to Redevco for €12 million, currently occupied by C&A in Madrid.
Ores Socimi, created by Bankinter and Sonae Sierra, invested another €36.5 million in Portugal, in the purchase of retail areas of Grupo Continente, in a total of 14,000m².