HomeEnglishMutualidad de...

Mutualidad de la Abogacía Buys Store in Preciados for €80 Million

Patrizia put the 4-floor 2,427 square metre asset up for sale more than two years ago for 100 million euros.

Mutualidad de la Abogacía

Mutualidad de la Abogacía is finalising a deal. The non-profit organisation plans to acquire a large store at Calle Preciados 4, currently rented to the fashion firm Sfera, from Patrizia. According to Idealista/News, the group will pay 80 million euros.

The asset has 2,427 square metres, distributed over four floors. It was previously owned by El Corte Inglés, which sold it in a sale & leaseback deal, in 2015, for €70 million.

Also, in 2019, Mutualidad de la Abogacía acquired the Carreteras 6 building from a group of private investors for €33.5 million. The building housed the first Zara shop in Madrid before it closed. In addition, the same entity signed with AEW the transfer of the asset located in calle Serrano 7, a smaller property (750 m2), rented to CaixaBank. Number 5 on the same street is also owned by AEW, leased to Adolfo Domínguez.

Read the full article in Spanish

B-Exclusives

Latest news