CB Richard Ellis advises Grupo Prisa in the sale of three buildings for 315 million euros

The real estate consultancy CB Richard Ellis (CBRE) has advised Grupo Prisa in the sale of its three buildings for 315 million euros.

Drago Real Estate is the real estate investment company that has purchased the properties in a Sale and Leaseback transaction. Grupo Prisa will stay as tenants for a period of 15 years.

The real estate assets sold to Drago Real Estate include two emblematic buildings in Madrid (Gran Vía 32 and Miguel Yuste 40) and the headquarters of Cadena Ser in calle Caspe, in Barcelona. Gran Vía 32 accommodates the headquarters of Prisa, Cadena Ser and Localia among other business lines while the building in Miguel Yuste accommodates the editorial office of El País.

The Communication Group has accumulated 242 million euros in capital gains. For Adolfo Ramírez-Escudero, Executive Director of CB Richard Ellis Spain “this transaction is emblematic, not just because of the building’s and company’s class but also because of the uncertain time the property market is living”.

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