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Saturday, December 3, 2022
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KWM advises ECI on the sale of the former RFEF HQ

King & Wood Mallensons has advised El Corte Inglés on the sale of the property located at 13 Alberto Bosch Street, the former headquarters of the Royal Spanish Football Federation (RFEF) to the Mapfre-Swiss Life JV

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El Corte Inglés has sold a non-strategic building. The insurance companies Mapfre and Swiss Life have acquired from the department store chain the property located at 13 Alberto Bosch Street, the former headquarters of the Royal Spanish Football Federation (RFEF). The asset, located in Madrid’s Los Jerónimos neighbourhood just a few metres from El Retiro Park, will be refurbished by the new owners, the insurer said on Friday. The price of the operation has not been disclosed.

Alberto Bosch 13 has a surface area of approximately 4,000 m2 distributed over seven floors. It was built in 1970 and is an emblematic asset in the area, characterised by the concentration of a large number of financial and investment services companies. For years it was the headquarters of Viajes El Corte Inglés.

Mapfre and Swiss Life Group created a pan-European co-investment vehicle for the real estate market, shared equally, which was born with a volume of assets valued at €400 million, located in Spain and Italy.

KWM advised on this deal with a Real Estate team led by partner Pepe Calleja, together with senior associate Candela Escribano Altuna.

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