The 3 buildings have a total combined area of 4.521 sqm spread across 83 dwellings and commercial space. The name of the new owner was not disclosed.
The buildings are located in the Distrito de Arganzuela, within barrio de Delicias, near the capital’s city centre. According to the press release issued by consultant Valliance Real Estate which advised the sale, the location of these assets was «one of this operation’s main appeals».
Despite these buildings being almost completely rented, consultant Valliance Real Estate considers they should be fully refurbished and repositioned on the market in order to maximize its profitability.
Belén Díaz, general director and partner at Valliance, who led the operation, pointed out that «the investors showed a clear interest for this type of assets, clearly marked by their good location given the lack of opportunities within Madrid’s M-30. In the consolidated neighbourhoods, such as Delicias, the only option to carry out new developments is through repositioning this type of buildings».