The Socimi GMP is ready to make new purchases, according to its President, after divesting one of the jewels in its crown earlier this year, the Castellana Norte business complex in Madrid. GMP was the Socimi with the largest cash balance at the end of 2019, with 93.7 million euros, up by 57.8% compared to the previous year.
The company, which is owned by the Montoro family (66%), and the sovereign wealth fund of Singapore, has a portfolio valued at 2,283 million euros comprising 22 properties spanning a total surface area of 452,319 square metres. Its assets include Castellana 81, which used to be the headquarters of BBVA on the Paseo de la Castellana, in the Azca area of Madrid; in fact, Oracle is expected to move there soon, from Las Rozas, although the move is being delayed by the pandemic.
Read the full article in Spanish.