Excem Sir sells an apartment building in the centre of Madrid for €8.6M

Excem Sir sells an apartment building in the centre of Madrid for €8.6M
Calle Doctor Cortezo, Madrid

Excem Capital Partners Sociedad de Inversión Residencial Socimi (Excem Sir) has sold a shared apartment building in the city centre of Madrid to a company for a total of €8.6 million, as reported by the company to BME Growth.

Specifically, the property, which dates back to 1870 and is located at number 15 Calle Doctor Cortezo, in the Embajadores neighbourhood, has a floor area of 1,776 square metres and is divided into six floors.

In addition, Excem Sir has indicated that, "as a result of the sale of the asset, the mortgage loan that the company held with Banco Sabadell with an outstanding balance of more than 3.1 million euros, signed on 20 April 2018″ has been cancelled.

Excem Sir is a company specialising in the coliving of shared flats for students and young professionals. Its largest shareholder is Germina Finance (36.1% of the share capital at 30 June 2023), a company wholly owned by Mauricio Botton, director of the socimi and grandson of the founder of Danone, Isaac Carasso.

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