Pramerica Real Estate Investors sells tower in Mendez Alvaro (ES)

Cushman & Wakefield (C&W) has advised Pramerica Real Estate Investors in the sale of Titán 4, in the Mendez Álvaro area of Madrid.

Titan 4

Titán 4 was completed in 2008.

The property, delivered in 2008, was purchased from Nozar while still under construction. It is let to Adif and comprises approx. 10,300 m² and 218 parking spaces.

According to Jaime Alonso-Allende, Head of Office and Industrial Investment of C&W in Madrid, "this transaction has been possible thanks to the excellent quality of the building and its privileged location, despite of Spain's current difficult market situation. A well-known tenant has also played an important role.

"High-quality well-located products such as Titán 4 are the type of asset that international investors are looking for."

The purchaser was Invesco, a German fund manager. Cushman & Wakefield has also been appointed for the asset management of the building.

Source: Cushman & Wakefield

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