Colliers sells a residential building for rent in Chamberí for €10M

Colliers sells a residential building for rent in Chamberí for €10M

Colliers has advised a national family office on the sale of a residential building located in the Madrid district of Chamberí. The asset has been traded for 10 million euros.

The property, which is located in the Trafalgar neighbourhood, one of the most popular residential areas in Madrid, is made up of 14 homes and a commercial premises, and is 100% marketed for rent.

The cost of the operation assumes that an average price of 6,500 euros/sqm has been reached.

"Profitable residential assets are perceived in the market as a safe-haven value and, at the moment, are in high demand by property investors. In a market with high inflation and low rates, we see an increase in investor appetite for this asset class For this reason, it has been possible to transact the building at levels of less than 3% triple net return, in an exclusive, competitive sale process and preserving confidentiality," says Mauricio Guerrero, director of capital markets at Colliers.

Colliers has advised the transaction from the seller's side while Santander Private Banking Real Estate Advisory (SPREA) has advised the buyer, a national private equity.

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