Kutxabank acquires the Claudio Coello 123 offices for €60M

Kutxabank acquires the Claudio Coello 123 offices for €60M

Kutxabank has signed a purchase agreement with the BentallGreenOak fund to buy the office building located at 123 Claudio Coello Street, in the Salamanca district of Madrid, where it will set up its headquarters in the capital, for around 60 million euros, according to El Confidencial.

BentallGreenOak announced on 26 October that it had reached an agreement to sell the building, although the identity of the buyer was not disclosed. The fund also announced that it had signed a pre-sale contract but that it would not be executed until the end of 2024.

The property has 3,869 square metres of floor space and is spread over seven floors, plus two floors of underground parking. BentallGreenOak acquired the building in 2018 and has committed to a comprehensive refurbishment of the asset. The company is currently in the process of divesting in Spain.

At the end of 2021, it sold an office building in Cornellà de Llobregat (Barcelona) to Europi and Kefren for 18.6 million euros. The property leased to Servihabitat has 9,500 square metres and 206 parking spaces.

In April 2022, the company also closed the sale of an office complex in Madrid for 29.8 million euros. The property is located at 34 Albarracín Street. The transaction was closed on 6 April and was carried out by GreenOak through its subsidiary GO Spain Alba.

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