Thor Equities, has acquired its first property in Spain, a prime retail property at 9 Puerto del Sol in Madrid, company executives announced.
The Spanish period building faces the famed Casa de Correos (House of the Post Office) on Puerta del Sol, one of the best known and busiest areas of Madrid for both locals and tourists.
Numerous international retailers have set up flagship stores on Puerta del Sol over the last few years including Apple Store, Top Shop, Sephora, and Women’s Secret.
Furthermore, the nearby Canalejas Project – which will include a shopping centre, luxury apartments, and the first Four Seasons Hotel in Spain – is forecast to significantly increase the foot traffic and quality of central Madrid.
“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,” stated Joseph Sitt, CEO of Thor Equities.
The purchase of 9 Puerta del Sol in Madrid continues Thor Equities’ recent international expansion. The company’s European holdings also include 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.
Source: Thor Equities