The German firm Rockstone Real Estate is continuing to make strides in the Spanish market with the purchase, together with the Mexican group BeGrand, of a property located at number 42 Calle Santa Engracia, in Madrid’s sought-after Chamberí neighbourhood. The acquisition is the second operation that Rockstone Real Estate Iberica has carried out in Spain, after it purchased a building near the Four Seasons Hotel last year together with LaFinca.
The building, which has been on the market since February, was acquired by Grupo Emerige in 2019 (the year in which they also obtained the building permit) for an unknown amount that reportedly ranged between 12 and 15 million euros. At that time, its renovation was planned to develop 23 luxury homes, but, for various reasons including high construction costs, the project was suspended.
Read the full article in Spanish.