The real estate fund Incus Capital has acquired 50% of Torre Caleido in the hands of Inmobiliaria Espacio, after the execution of a guarantee for a loan that the real estate subsidiary of the Villar Mir family had pending with Arbor Investment, a company belonging to Incus, as reported by Expansión.
The other 50% of the company is in the hands of Megaworld Corporation, a group belonging to the Philippine billionaire Andrew L. Tan. Torre Caleido is known as the fifth tower of Madrid and completes the skyline of the city that culminates in Paseo de la Castellana. Its market value exceeds 300 million euros.
After the operation, Inmobiliaria Espacio will continue to manage the property. Torre Caleido, inaugurated in September of this year, has a 35-storey, 181-meter high tower that, among other tenants, houses an IE University campus. In addition, the building includes a hospital center of the Quirónsalud group specialized in sports medicine.
The building has 70,000 sqm of offices and a public park of 33,000 sqm. Inmobiliaria Espacio entered the project in 2017 with a loan from Arbor whose first tranche for 80 million euros expired last September.