Redevco acquires prime retail property in Madrid for 27m euros

June 21, 2010

REDEVCO has announced the acquisition of a retail property in Madrid’s exclusive Salamanca district, at Calle Goya 47. The building has a surface area of approx. 2,300 sq m and has been under lease to Zara since 2005.

According to Javier Hortelano, Managing Director of REDEVCO in Spain, Portugal and Italy, “We are extremely pleased with the deal, since this acquisition is in line with our strategic goal of developing a portfolio of prime commercial real estate in Spain’s leading cities.”

Javier Hortelano added, “At REDEVCO we’re open to new investment opportunities, and despite the current adverse economic situation this retail building on Calle Goya is very attractive for us not just because of its strategic location and interesting internal design, but also because it is under long-term lease to a top business like Zara of the Inditex Group.”

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