Alting buys an office building in Madrid for €18M

Alting buys an office building in Madrid for €18M

The acquisition price was €18 million, and Busquets & Gálvez and CBRE real estate agencies provided intermediation for the transaction.

It is a modern office building, built in 1992, with 25 linear meters of façade and 3,200 sqm of surface area, including a large retail space, 5 floors of offices and 2 floors of parking.

The offices are currently leased to various companies, including Mcfit and Orange, and the retail space is leased to the Calzedonia group.

Calle Fuencarral is one of the most in-demand areas of the city. It runs from Gran Vía to the Chamberí neighborhood. A large section of the street is pedestrian only, with numerous fashion, luxury and international brands and restaurants, among others. It is also very well-connected via public and private transport, with bus and metro stops just minutes away.

In Madrid, the real estate group previously acquired a building in the Los Jerónimos neighborhood, at Calle Ruiz de Alarcón 5. The company transformed this listed building into high-standing corporate offices right by the El Retiro Park, one of the most emblematic areas of Madrid.

Alting, with this new acquisition, is ramping up its investments in order to grow its portfolio of assets and diversify and expand geographically. The process focuses on other acquisitions in Madrid, in areas like Gran Vía, La Castellana and the Salamanca neighborhood, although other operations in major Spanish cities are also being considered.

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