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JSS Real Estate buys building occupied by Movistar Plus+ for 79 million

JSS Real Estate buys building occupied by Movistar Plus+ for 79 million

The socimi (real estate investment trust) JSS Real Estate, under the control of the Swiss bank Safra Sarasin, has acquired the property occupied by Movistar Plus+ in Tres Cantos for a price of 79 million euros. The asset, located on Avenida de los Artesanos, has an approximate area of 42,000 square meters.

According to the information provided by the socimi, the acquisition was made from a North American fund and will be financed through their own resources and external funding, which is yet to be determined. The property is currently leased to the subsidiary of the Telefónica group under a long-term contract. It houses television studios and offices dedicated to technical services and production.

With this acquisition, JSS Real Estate expands its portfolio of real estate assets, which already includes a recently purchased building at Avenida de los Artesanos 6, as well as properties located at Avenida del Camino de Santiago 40 and Calle Ríos Rosas 24, where the headquarters of FCC and the offices of Canal de Isabel II are located, respectively. At the end of the previous fiscal year, the socimi reported a net worth of over 49 million euros and a net turnover of 3.2 million euros.

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