Dentons Advises Colonial on the Sale of Prime Office Building
The Real Estate team at Dentons Spain, led by partner Roberto Tojo (pictured centre) with the collaboration of associates Francisco Jiménez (pictured left) and Francisco de Bonilla (pictured right), has announced the successful completion of advising Inmobiliaria Colonial in the indirect sale of a turnkey office building located at 31 Méndez Álvaro Street, Madrid.
The property, boasting an approximate total built surface area of 20,275.50 square meters, commenced its sales process on October 3, 2018, under an agreement subject to various conditions precedent and the effective development of the project. The transaction spanned three payments between 2018 and 2020, with final price adjustments, reflecting its complexity due to intensive negotiations and the need to amend technical and legal aspects through addendums to the sale and purchase agreement.
Inmobiliaria Colonial, Socimi, a leading real estate company in Spain, specializes in the acquisition, management, and development of high-quality office properties. Renowned for its focus on prime locations in Spain’s major cities, particularly Madrid and Barcelona, Colonial boasts a distinguished portfolio that includes some of the most iconic and sustainable office buildings in the country.
The completion of this transaction further solidifies Dentons Spain’s position as a leading legal advisor in the real estate sector, providing comprehensive support and innovative solutions to clients across the industry.
