Home Companies The Corum Fun...

The Corum Fund Acquires Foster Wheeler’s Former Las Rozas Offices

Corum AM is a French institutional investor with more than €3.5 billion in assets under management.

Corum AM, a French real estate investment fund, has acquired the former headquarters of the Scottish engineering firm Wood, formerly Foster Wheeler, in Las Rozas (Madrid), for an unspecified amount.

The asset is located at Calle Gabriel García Márquez 2, opposite the A-6 motorway. The office building has 11,000-m2 of space on 3 floors, along with 562 parking spaces. BNP Paribas Real Estate advised the fund.

When the company was still Foster Wheeler Iberia, it sold its offices in Madrid to the German investment fund Despa Europa in 2000, in a sale and lease back transaction.

Read the full article in Spanish

B-Exclusives

Increased Demand for Houses in Madrid Leaves Supply at Six-Year Low

The demand for houses in Madrid following the coronavirus pandemic reduced supply by 28% in 2020, with interest concentrated on the city’s periphery. However, Moncloa-Aravaca still has the most detached properties for sale in the capital, according to Brainsre.

Where are the Highest Housing Yields in Madrid and Barcelona?

According to Brainsre, buying a property to let is currently yielding a gross profit of 4.6% in Madrid and 4.1% in Barcelona, the lowest value in the last five years.

A Snapshot of the Spanish Residential Market

Between March and December, the supply of single-family homes fell by 12%, falling twice as quickly as that for flats, due to a sharp increase in demand, according to Brainsre.

Latest news

Crisis Fails to Halt Sales of Commercial Assets: €1.9 billion on the Market

The Covid-19 pandemic led to a decline in investment in retail assets, with a total volume of €2.3 billion, a figure similar to that expected in 2021, according to EY.

Value Retail Invests €50 Million to Renovate Outlet in Barcelona

The remodelling of the Village involved direct investments of €50 million and indirect investments of €7 million, generating up to 170 new jobs.

Aedas Invested €132 Million in Land Last Year

Over the last fiscal year, Aedas, a developer controlled by Castlelake, invested 132 million euros in acquiring land, where it will be able to build up to 1,945 homes.

RLH Opens Rosewood Villa Magna This Year, Invests $110 Million in its Portfolio

The company has set aside 110 million euros to renovate three hotels in its portfolio, including the one located in Madrid.