Germany's Union Investment has confirmed the acquisition of the Portico office building in Madrid from the Spanish tourism and transportation conglomerate Marsans. The transaction, initially reported by PropertyEU on 22 December 2008, is the first acquisition in Spain for Union Investment's UniImmo: Deutschland fund. The financial details of the deal were not disclosed, but based on similar transactions in the area, it is believed the investment was in the vicinity of EUR 100 - 130 mln.
Premium subscriber content – please log in to read more or take a free trial.
