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Merlin Acquires a Building in the Heart of Madrid’s Financial District From El Corte Inglés

The Socimi has acquired the Serantes Building in the centre of Azca and now owns four properties in the business district.

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Merlin Properties is gaining ground in Azca, the financial heart of Madrid, and has expanded the number of buildings it owns in the area to four, after purchasing a property that until now belonged to El Corte Inglés. In turn, the department store giant is continuing to generate revenue from the sale of its huge real estate portfolio.

According to El Confidencial and Cinco Días, and as confirmed by sources close to the operation speaking to this outlet, the Socimi Merlin will pay between 10 and 11 million euros for the so-called Serantes Building. The 2,400-square-metre asset has 150 parking spaces and forms part of the portfolio that El Corte Inglés put up for sale earlier this year and which is currently generating a new operation almost every week.

Read the full article in Spanish.

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