The goal is to allow the opening of 5 flagship stores in this area, namely food and fashion stores, which will complement the offer from the new Riu Plaza España hotel, which will open in the building.
In october, Inbest Real Estate’s president, Javier Bassagoiti, announced that the deal should be closed for around 160 million euro.
Luis Riu, CEO of RIU Hotels & Resorts, comments in a release: «we believe that having Corpfin Capital Real Estate as an ally to kick off the commercial area of España building is the best way to get the most out of it. We believe that the goals will be met: to create a new reference in retail, which will start at Gran Vía, and to offer an attractive proposition which will promote Madrid’s growth and development».
Javier Basagoiti, Corpfin Capital Real Estate’s chairman, says that «we are sure that these locations will become landmarks in Madrid. Our idea is to, in tandem with RIU, elect the operators who can best adapt to the buildings philosophy concerning the hotel activity and to design the stores so that they become flagships for high level operators».