JSS Real Estate buys the building occupied by Movistar Plus+ for €79M

JSS Real Estate buys the building occupied by Movistar Plus+ for €79M

The socimi JSS Real Estate, under the control of Swiss bank Safra Sarasin, has purchased, through its subsidiary Global Vigata, the property occupied by Movistar Plus+ in Tres Cantos, for a price of 79 million euros. The asset, located on Avenida de los Artesanos, has a surface area of approximately 42,000 square metres.

According to the socimi, the acquisition was made from an American fund and will be developed with its own resources and external financing to be determined. The asset is currently leased to the Telefónica Group subsidiary under a long-term contract. It also houses television studios and offices, dedicated to technical services and production.

JSS Real Estate has thus expanded its portfolio of real estate assets to include, in addition to the recently acquired building at Avenida de los Artesanos 6, properties located at Avenida del Camino de Santiago 40 and Calle Ríos Rosas 24, where FCC's headquarters and the offices of Canal de Isabel II are located, respectively. The Socimi closed the previous year with net assets in excess of 49 million euros and net turnover of 3.2 million euros.

CBRE advised the selling party on the transaction.

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