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Inmo Criteria (InmoCaixa) Acquires CaixaBank’s Historic HQ for €239 Million

This is a record amount in the office segment in Madrid and is equivalent to paying almost 13,000 euros per square metre.

Sede corporativa de CaixaBank en Barcelona 1024x694 1

CaixaBank has sold its historic headquarters at number 51 Paseo de La Castellana. The banking entity has divested one of its most iconic assets and the lucky buyer is its own real estate subsidiary, Inmo Criteria (commercially known as InmoCaixa), for 238.5 million euros.

Since CaixaBank put the property up for sale in early April, several firms have been putting the feelers out. In fact, more than fifty real estate agencies, funds and other investment vehicles have expressed their interest in the asset in recent months. But as the CNMV announced last Friday, in the end, the winner of the sales process has been one of CaixaBank’s own subsidiaries. The group had to file a report with the regulator because the operation has been signed with a related group company; that report details that Inmo Criteria was the purchaser that was able to provide the greatest guarantees for the preservation of the brand and the interests of the bank.

Read the full article in Spanish.

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