Spanish family office buys a commercial property in Madrid for €4M

Spanish family office buys a commercial property in Madrid for €4M
Méndez Álvaro, Madrid

A Spanish family office has bought a commercial property located in the Spanish capital for €4 million. The space, which is located near the Méndez Álvaro bus station, has a surface area of 874 square metres, divided into a ground floor (812 square metres) and a mezzanine (62 square metres).
Tenigla Real Estate has advised the private investor in the sale & leaseback transaction and the multifamily office Kiri Asset Management has been responsible for advising the seller.

According to Jesús Sánchez-Quiñones, partner at Kiri AM, "these types of transactions demonstrate that the retail sector, and more specifically F&B (food and beverage), continues to attract a lot of investor interest. It is a growing sector that we believe will continue to grow over the next few years, which will undoubtedly translate into more transactions of this type".
Since its founding in 2015, Tenigla has completed transactions worth around €620 million in Spain, Germany, London, Paris, Portugal and New York. In addition, it has advised on the creation and management of a total of 17 co-investment projects in value-add real estate with a market value of approximately €180 million.
For its part, Kiri, a multifamily office specialising in real estate investment and asset management founded in 2018, has reached 25,000 square metres under management and has participated in transactions worth forty million euros.

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