Corpfin’s REITs sell two retail spaces in Madrid for €14.6M

Corpfin’s REITs sell two retail spaces in Madrid for €14.6M

McDonald’s located at 18 Calle Alcalá in Madrid | Photo Collected From Corpfin Capital's Website

The operation was carried out by its REITs Corpfin Capital Prime Retail Assets (CCREP)  and Corpfin Capital Prime Real Assets II and consisted of an «anticipated sale of 2 of three commercial spaces whose purchase options were expected to be executed during July 2020», it can be read in the release sent to the Mercado Alternativo Bursátil last week.

One of the assets is located at number 18 Calle Alcalá in Madrid and is currently occupied by a McDonald’s restaurant and the other is located at number 109 Calle Bravo Murillo, and it has restaurant VIPS as its tenant.

The name of the assets’ new owners was not disclosed, but it is known that «these assets are part of a 13 asset portfolio whose buying options had been subscribed on the 19th of June 2018».

Both assets had been acquired in 2016 and, according to Corpfin Capital on its official webpage, «this operation included the acquisition of four commercial spaces located in strategic areas in Madrid. CCREP implemented a value creation strategy through managing and converting former cafes into prime assets, to be rented to top-level tenants».

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