Sale & Leaseback Paseo Recoletos 4, Madrid
Cushman & Wakefield identified a prime property in Madrid owned by a company that was trying to rationalize their real estate and an investor willing to reenter the Spanish market for very prime property.
The investor was very interested in the property and wanted to secure the purchase but the potential vendor had not decided to sell and in any case was willing to take a very discreet approach. The negotiation was driven in an off market process with all deciding parties involved in the process. An action plan was designed and we took every step that was required from analyzing the term of the leaseback, term, rent, conditions, assisting during the due diligence process until the final agreement was reached.
The transaction was completed in the agreed timescales with no surprises during the DD process. The property was acquired in December 2010.