Spain

Socimi Saint Croix buys an office building in Madrid

Socimi Saint Croix buys an office building in Madrid

Saint Croix Holding Immobilier has closed the purchase of an office building in Madrid, as reported this Friday by the Socimi of the Colomer family, owners of Pryconsa, to the National Securities Market Commission (CNMV).

Specifically, the asset is located at number 14 Calle de Arapiles, in the Chamberí district, and has a gross leasable area of more than 6,777 sqm.

The property will be rented to "a first-rate operator, who will occupy the entire building once the demolition works, cleaning of the structure and renovation of general facilities, among others, are carried out," said Saint Croix, who has indicated that " these works are expected to be completed in the last quarter of 2022 ”.

The price of the operation, in which CBRE has advised, is around 20 million euros, according to market sources.

Currently, Saint Croix, a Socimi specialized in the purchase and promotion of urban real estate for lease, has more than 30 assets throughout Spain, according to the data published on its website.

Specifically, the company has six hotels in the provinces of Huelva and Madrid, 14 office assets in Madrid, 11 commercial assets in Madrid, Huelva and Castellón, and a logistics warehouse in Madrid, in addition to the Arapiles office building 14.

Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!