Spain's Banco Sabadell has reached an agreement with London & Regional Properties to sell the Parque Empresarial Avenida América 115, one of Madrid's largest commercial properties located next to the Barajas airport.
Spain's Banco Sabadell has reached an agreement with London & Regional Properties to sell the Parque Empresarial Avenida América 115, one of Madrid's largest commercial properties located next to the Barajas airport.
The asset, which is fully leased to telephone giant Vodafone with a contract running from 2013, was sold for a total of €117 mln.
The office complex was built by Banco Sabadell's property arm Solvia on a plot of land that previously belonged to Reyal Urbis, and which was later transferred to Banco Sabadell as part of debt negotiations with the property developer.
The complex consists of five seven-storey buildings offering a combined 50,600 m2 of space.
Law firm Uría Menéndez y Garrigues advised on the deal.
