Continental Property Investments (CPI) has clinched the purchase of an office building at Calle Serrano in the Spanish capital from Grupo Foxá for around EUR 22 mln, Francisco Pleguezuelos, head of CPI's investments in Spain, told PropertyEU in an interview.
Continental Property Investments (CPI) has clinched the purchase of an office building at Calle Serrano in the Spanish capital from Grupo Foxá for around EUR 22 mln, Francisco Pleguezuelos, head of CPI's investments in Spain, told PropertyEU in an interview.
The deal follows hard on the heels of CPI's purchase in January this year of the five-star Hilton hotel Valencia. The stylish hotel was built in 2007 for EUR 110 mln but was acquired by CPI for just EUR 42 mln plus expenses.
The Serrano 240 property marks CPI's first real estate acquisition this year in Madrid's business district. BNP Paribas Real Estate and law firm Uria Menendez acted for CPI.
CPI was founded in France back in 1997 by Lebanese businessman Boutros El Khoury
The full interview appears in the March edition of PropertyEU Magazine. Click on the following link to subscribe.
