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Zurich Buys Popular’s Former Headquarters for €120 Million

The insurance company has completed the purchase of the building, located on Calle Velázquez in Madrid, which used to be owned by Grupo Rosales.

grupo rosales 1

The Swiss insurance group Zurich is finalising the purchase of the building located at Calle Velázquez 34 in Madrid, known for housing the headquarters of the now defunct Banco Popular for many years. The operation is in a very advanced due diligence phase and is expected to close in a few weeks, reports Cinco Días.

The building on Calle Velázquez 34 was the official headquarters of Popular in the centre of Madrid for decades, although the bank also had management and private banking offices in the Beatriz Building, also located in the Salamanca neighbourhood, specifically on Calle Ortega y Gasset.

Read the full article in Spanish.

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