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US Fund invests in offices

Posted by Jeroen Oskam on 11th March 2019
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38 million euros for 29.400 m2

The US investment fund Angelo Gordon has paid 38 million euros for an office building next to the airport of Madrid.

The building was built in 1995, has a rented area of ​​29,400 square meters and contains 204 parkings. The current occupancy rate is 76%.

The new owner wants to modernize the building. The façade will be renovated, common spaces will be remodelated, and offices will be refurbished.

Interesting portfolio

Angelo Gordon has realized investments and sales since 2014 in Madrid, Bilbao and Barcelona.

In Bilbao, Angelo Gordon is the owner of the historic headquarters of the Spanish bank BBVA and in Sitges (province of Barcelona) of the 5-star hotel Dolce.

Source: Expansion.

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