The company Kennedy Wilson paid 30 million to Restore from a building in the Plaza del Sol, which considered the Piccadilly Circus of Madrid.
Barcelona court overseeing the bankruptcy of Restores has authorized the sale of a property of this company in Madrid to an investment fund managed by Kennedy Wilson.
According to the US firm, the price paid for the building located at number nine from Puerta del Sol is 30 million.
In addition, Kennedy Wilson wants to invest 10 million euros to convert the property into a luxury shopping center . The final year will ask the City of Madrid the change of use of the building with six floors and 2,200 square meters, now has residential destination.
“Once authorization is received The property between high end brands seeking a unique location will be marketed, “says Kennedy Wilson.
The intention of the fund is to rent the whole building to a single brand to install a store.
Mary Ricks, CEO of Kennedy Wilson Europe (London branch of the Californian background) states that “the acquisition in the Puerta del Sol added this renowned tourist destination, Madrid’s equivalent of Piccadilly Circus in London, our portfolio. “
The investment fund has performed the operation through its partnership in Spain with Car Corporation, for which the firm takes 10% of the investment and manages the property. Last year, they bought another building in Madrid for 10 million.
Content of the Latin American Economic News Network 
fondos@eleconomista.com.mx
No comments:
Post a Comment