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Patrizia Converts a Prime Office Building in Madrid into Rental Homes

The manager will maintain the asset, which will have 140 rental homes. They are located in the Julián Camarillo neighbourhood, one of the hottest areas in the office market.

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Patrizia is expanding its build to rent portfolio in Spain, with the addition of 140 new units in Madrid.

In October last year, the negotiations between the real estate investment manager, Grupo Barba and Invesco came to light. The three parties were hammering out the sale of the office building located on Calle Juan Ignacio Luca de Tena 28. Patrizia paid Invesco and Barba 50 million euros for the property in a transaction that ended up closing at the beginning of the year.

Read the full article in Spanish.

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