Madrid-based investment firm Drago Capital and an affiliate of Cerberus Capital Management have acquired a real estate portfolio consisting of 97 bank branches from Caja Madrid. The sale-and-leaseback transaction amounts to EUR 96 mln, representing an EUR 80 mln capital gain for the Spanish lender.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
