26 October 2017 – Eje Prime
Arcano’s real estate arm is continuing to grow. In its fight to become one of the leading players in the Spanish real estate business, the company has recently purchased a retail store in the centre of Madrid from Redevco for €12 million, according to sources at the group.
The establishment, which is currently occupied by the international fashion retail group C&A, has a retail surface area of more than 3,400 m2. The asset is located at number 202 on Calle Bravo Murillo. According to sources in the sector, the operation has been brokered by the real estate consultancy CBRE. The property will be added to the group’s portfolio of assets, which comprises buildings in Madrid, Barcelona, Costa del Sol and Portugal.
Until now, the asset was owned by Redevco, a company specialising in the investment and management of commercial properties. The group manages a portfolio of more than 400 assets located in the main commercial areas of Germany, Austria, Belgium, Spain, France, Hungary, Luxembourg, The Netherlands, Portugal, United Kingdom and Switzerland (…).
Arcano, which recently moved its Madrid offices to number 29 Calle Ortega y Gasset, was founded in 2003 and employs almost 140 people with offices in Barcelona, Madrid and New York. Since its creation, Arcano has become one of the leading independent firms in the Spanish financial sector (…).
Original story: Eje Prime (by C. Pareja)
Translation: Carmel Drake
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Source:: AURA Real Estate Experts