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Zurich Office Puts Building Leased to Madrid Courts Up for Sale

The asset is currently valued at €70 million, but it is believed that the price will drop due to the effect of the Covid-19 pandemic.

Calle Francisco Gervas numero 10 de Madrid Fuente Google Maps 1
Building located at calle Francisco Gervás number 10 in Madrid. Source: Google Maps.

Zurich announced that it would sell an office building, located at Calle Francisco Gervás, 20, in Madrid. The building is currently leased to the Courts of First Instance of Madrid.

Zurich has already received several non-binding offers for the asset and has selected some for further negotiations. The transaction is expected to be finalised by the end of the summer holidays, according to an article in Expansión.

Read the full article in Spanish

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