Italy's fashion retail group Benetton has sold a building in Madrid for EUR 27 mln, according to a company statement sent to the American Security and Exchange Commission (SEC) . The filing said the property, which is not a retail premises, is located on the Goya de Madrid. The identity of the buyer was not disclosed.
Italy's fashion retail group Benetton has sold a building in Madrid for EUR 27 mln, according to a company statement sent to the American Security and Exchange Commission (SEC) . The filing said the property, which is not a retail premises, is located on the Goya de Madrid. The identity of the buyer was not disclosed.
Goya de Madrid is a major commercial street in the Spanish capital that features several fashion retail stores as well as a El Corte Ingles department store. Spanish newspaper Cinco Dias said the Italian fashion company owes EUR 19. 1 mln on the building it purchased in 2004.
Benetton's real estate subsidiary was created by the split of Benetton Retail Spain, Benetton Realty Spain and Benetton Textil Spain. In 2004 the subsidiary specialized in property's development and acquisitions.
