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Wednesday, April 17, 2024

KWM advises a family office on €300m RE acquisition from Colonial

King & Wood Mallesons has advised Prallariz family office on the purchase of three office buildings located on the Paseo de la Castellana from the SOCIMI Colonial for a total value of €300 million

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According to El Confidencial, Colonial has sold three office buildings in the prime area of Madrid to the Prallariz family office, a company owned by Rafael González-Vallinas. The transaction has been closed for €300 million.

The buildings (Almagro 9, José Abascal 56, and Miguel Ángel 11) have a total surface area of 35,000 square metres and are located in one of the most sought-after areas of the capital’s business district.

The transaction is considered one of the most important in recent months in the Spanish real estate market, both for the amount agreed and for the quality and location of the assets acquired.

King & Wood Mallesons’ team was led by partner and head of the Real Estate team José Antonio Calleja and senior associate Candela Escribano.

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