Thor Equities has committed to its second investment in the Madrid real estate market within two months.

Thor Equities has committed to its second investment in the Madrid real estate market within two months.

On 11 October the New York-based urban real estate specialist signed a contract to acquire a 1,330 m2 mixed-use building at 16 Calle Fuencarral in the Spanish capital.

The four-storey retail and office building features two separate entrances, and 12 metres of frontage at the prime end of a popular pedestrian corridor. The area benefits from high footfall, including international tourists and local residents on the adjacent Gran Via, one of Madrid’s trendiest locations.

The deal is the first acquisition for Thor Equities to be led by Ara Adjennian, who joined the company in September as executive director of European investments.

The company entered the Madrid market in August with the acquisition of a retail property at 9 Puerta del Sol. Thor's other European holdings include 102 Avenue des Champs-Elysees, 51-53 Boulevard Haussmann and 65-67 Avenue de Champs-Elysees in Paris; 65 Boulevard de la Croisette in Cannes; and Bond Street House, 105-109 Oxford Street and the Burlington Arcade in London.