Thor Equities has acquired its first property in Spain, a prime retail asset at 9 Puerto del Sol in Madrid from vendor Kutxabank for a price believed to be just under €15 mln.
Thor Equities has acquired its first property in Spain, a prime retail asset at 9 Puerto del Sol in Madrid from vendor Kutxabank for a price believed to be just under €15 mln.
The Spanish period building faces the famed Casa de Correos (House of the Post Office) on Puerta del Sol, and provides around 300 m2.
'Puerta del Sol already boasts the highest footfall in Spain, and street rents are expected to grow significantly over the next few years due to the Canalejas Project and increasing retailer demand in the area,' said Joseph Sitt, CEO of Thor Equities.
The purchase continues Thor Equities’ recent international expansion following the acquisition of 102 Avenue des Champs-Elysees, 51-53 Boulevard Haussmann and 65-67 Avenue de Champs-Elysees in Paris, as well as Bond Street House, 105-109 Oxford Street and the Burlington Arcade in London.
