Chevez advises on Gran Vía landmark deal
Chevez has advised General de Galerías Comerciales on the acquisition of the building located at Gran Vía 28 in Madrid, known as the “Edificio Telefónica” and regarded as the city’s first skyscraper.
The property, built in 1929 to a design by architect Ignacio de Cárdenas, stands almost 90 metres tall and has served as Telefónica’s historic headquarters. Covering approximately 32,000 square metres, the building holds Madrid’s highest level of heritage protection and is among the most recognisable structures on the Gran Vía. Espacio Fundación Telefónica and the Espacio Movistar store will continue operating from the building following the sale.
The transaction adds to Chevez’s recent activity on the Gran Vía. In September, the firm also advised the buyer of the Hotel Nomade Temple, located at Gran Vía 11, on its acquisition.
The teams
Chevez’s Spanish team was led by Paula Hernández, Partner and head of Real Estate, and Miguel Bastida Peydro, Partner in Tax and Private Clients. The team also included associates Javier Rabena Camuñas (Real Estate) and Paloma Aurrecoechea Bereincua (Tax and Private Clients), along with lawyers Antonio Orbe and Mario Jerónimo (Real Estate).
The deal also involved Estefanía Iceta, Partner in Real Estate, and Juan Manuel Cabeza and Pablo Molina, Partners in Urban Planning, from Garrigues. Ramón y Cajal acted as legal counsel to the seller.
