WFW advises Santander on €40m Madrid retail project financing

Watson Farley & Williams has advised Banco Santander on the €40 million financing granted to Iberia Project Development, an SPV jointly owned by CBRE GI and IBA CAPITAL, to refurbish a retail project under development in Madrid’s city centre at Gran Vía 18

The 5,500sqm building will hold the first physical store of WOW, a new venture conceived and developed by the former CEO of top Spanish retail chain El Corte Inglés.

US-headquartered CBRE GI is considered one of the largest commercial real estate services companies globally, acting for more than 90 Fortune 100 companies. IBA Capital Partners is an independent real estate firm with wide experience in the Spanish and European markets.

The WFW Madrid Real Estate team, advising Banco Santander, was led by partner Pablo San Gil (pictured left), working closely with senior associate Ignacio Cacho (pictured right).

Desire Vidal