Emperor Properties acquires the former Torre Espacio

Emperor Properties acquires the former Torre Espacio

The company owned by the Filipino millionaire Andrew L. Tan has acquired Torre Espacio, now baptized Torre Emperador Castellana. This is one of the last movements prior to landing on the stock market. Although the organization has not revealed what floor it will do so, the company has begun the reorganization of its business to speed up the process by gaining size with the addition of more real estate assets.

The Emperador Castellana Tower is not just another asset for Emperador Properties: it is the fourth tallest skyscraper in Spain, which is part of the top 10 in Europe, with a height of approximately 225 meters distributed over 56 floors. In total, 60,000 square meters at the end of the famous promenade that adjoins the Caleido Tower, of which it controls 50% together with Incus Capital, which after executing a guarantee from Villar Mir would have the remaining half of the property.

Emperor Properties, with this transfer, has increased its capital by 30 million euros, so it already exceeds 101 million in total. According to El Confidencial, the Socimi explains that it is not due to a monetary contribution but rather to the last step of the corporate modifications prior to the company's listing.

This division of Grupo Emperador, focused on the acquisition and management of its real estate assets in Spain, has a portfolio valued at more than 1,000 million euros. In addition to this peculiar property, the company has the Caleido Tower -better known as the Fifth Tower-, located on Madrid's Paseo de la Castellana, or the Diagonal One Tower, located on one of the main arteries of the Catalan capital.

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