The Mutualidad insurance company has bought a Madrid, Spain, office building for €46 million.
The building at 108 Príncipe de Vergara Street was sold by UBS. It has 7,295 square meters above ground and 3,589 square meters below ground.
The Madrid office has LEED Gold sustainability certification and a B energy rating.
Mutualidad currently has 42 properties with a market value of more than €769 million.
Linklaters represented UBS and while the Document Verification firm advised Mutualidad. UBS was supported CBRE and Novasa acted for Mutualidad.
Carlos Pérez-Baz, director of Real Estate Investments at Mutualidad, says, “At Mutualidad we are constantly searching for new real estate opportunities to increase the value of our portfolio. This operation helps us consolidate it and is another example of our commitment to growing the benefits of our mutual members.”
José Joaquín González, Real Estate Investment analyst at Mutualidad, says, “With this operation we consolidate our position in a reference area, already being owners of the three main and adjoining office buildings in the area: Francisco Silvela 106, Príncipe de Vergara 108 and Príncipe de Vergara 110.”
The image from Wikimedia is by Zarateman and is reproduced under CreativeCommons.
