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