CBRE Global Investors acquires office buildings from Barclays Bank in Madrid

CBRE Global Investors acquires office buildings from  Barclays Bank in Madrid

For the moment, the cost of this project has not been made public, although market sources recently pointed out that CBRE Global Investors might have been willing to pay up to 70 million euros for this asset.

The building, with an area of 3,910 m2 and built in 1971, has a semi basement, ground floor and three upper floors. The building stands out for its excellent location at the intersection of the Plaza de Colón, the Paseo de la Castellana and the Paseo de Recoletos.

José Antonio Martín-Borregón, general director of Spain and Portugal for CBRE Global Investors pointed out, "With our local team’s experience, this project is a great opportunity to remodel the asset in order to offer an attractive property of mixed use, in line with the business profile in this zone. We are certain that, thanks to its singular location, this property will spark the interest of any firm with an international reach."

John Mulqueen, operations director at EMEA for CBRE Global Investors added, "This is our third acquisition in Spain in the last twelve months, with a total investment of more than 200 million euros. We have ambitious plans for this asset and can count on an available capital sum from our clients for retail, offices and logistics in 2017 throughout the EMEA region".

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