The transaction, advised by Aguirre Newman, reached the sum of 147 million euros. The other shortlisted candides were Colonial and GreenOak.
“This completes the divestment phase of non-core activities of the company. This significant strengthening of liquidity and solvency allows Ahorro Corporacion to develop its businesses better,”Jorge Gil Lozano, the President of Ahorro Corporacion said in a statement.
The building in due has 20,000 square meters of office space for rent spread over 12 floors together with some 530 parking spaces. Currently it has 100% occupancy rate and its first-line tenant list include apart from the seller itself Sareb, Deloitte or Alain Afflelou in the offices and Lateral, Maki, New York Burger or Dionysus in the commercial area and restaurants. The property on Castellana 89 was bought by Ahorro Corporacion from Barclays in 2003. The company will maintain its headquarters in the building and thus its corporate identity.