InmoCaixa buys an office building in Madrid from GMP

InmoCaixa buys an office building in Madrid from GMP

The company in charge of managing the real estate assets of the Criteria Caixa Foundation has acquired a 20,000 sqm building at number 1 Calle Condesa de Venadito. The operation has been closed for around 85 million euros, according to EjePrime.

Until now, the building was owned by GMP Property, a SOCIMI owned by the sovereign wealth fund of Singapore (GIC). Its tenants include companies such as Grupo Ingenium, Universalpay or the newspaper El Economista. The consulting firm RPE has participated as an advisor in the transaction.

The operation of this property by GMP is part of the mature asset rotation strategy carried out by the company, which as a property management firm specializes in the development of offices and business parks in Madrid. Both GMP and InmoCaixa have declined to make any statements regarding the operation.

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