The Socimi Emperor is reorganising its portfolio and gaining momentum ahead of its stock market debut. The company owned by the Philippine millionaire Andrew L. Tan has acquired Torre Espacio, now baptized Torre Emperador Castellana. This is one of the Socimi’s final purchases prior to making its debut on the stock market. Although the company has not revealed which exchange it will list on, it has begun to reorganise its business to speed up the IPO process by gaining size with the addition of more real estate assets.
The Emperador Castellana Tower represents not just another asset for Emperador Properties: it is the fourth tallest skyscraper in Spain and one of the top 10 tallest in Europe with an approximate height of 225 meters distributed over 56 floors. In total, the property spans 60,000 square metres and it is located at the end of Paseo de la Castellana, next to the Caleido Tower, which Emperor controls jointly (50:50) together with Incus Capital after that firm executed a mortgage guarantee over Villar Mir.
Read the full article in Spanish.