Spanish property company Grupo Marsans turned to Uría Menéndez to advise on the sale of its landmark Madrid HQ to German investment fund Union Investment Real Estate (UIRE).
The transaction saw the sale and lease of Marsans' building known as Edificio Pórtico (pictured), which serves as the company's HQ. The building is based in the Campo de las Naciones area of Madrid. The property has been sold for €115m to Germany-based UIRE, and the subrogation of the purchaser to the mortgage loan granted by Eurohypo for the building's original acquisition.
A lease agreement for the entire premises was entered into simultaneously to the formalising of the sale and purchase deed. The initial term of the lease is eight years.
Uría worked for the seller with a team of partners that included Diego Armero, Luisa Vara, Pablo Garrote and Francisco Bengoetxea from the real estate team. The German company turned to Gómez-Acebo & Pombo with Eurohypo relying on in-house lawyers.