Triuva, the real estate adviser that manages almost €10bn of European property investments on behalf of institutional clients, has acquired the Adidas flagship store on Calle Gran Vía in central Madrid’s main shopping district. The terms of the off-market purchase from Iberfin Capital, owned by de Andres Puyol Family are to remain confidential.
The building with its impressive classicist facade provides for 6,730 m². Since last year Adidas occupies the ground floors, whilst the upper floors are let to the NH Collection Hotel and are currently being refurbished.
Manuel DeVigili, Head of Investment Management at Triuva, said: “This property is situated on one of the best retail pitches in Europe. Its location and the outlook for prime retail destinations in Spain offers our investors significant potential for rental growth.”
Hogan Lovells and Arcadis advised Triuva on the acquisition.
