Emperador €558 million acquisition of Torre Espacio

Overview:

• Emperador group—one the largest spirits companies in the Philippines—has acquired Torre Espacio, one of the representative four towers (Cuatro Torres) of Madrid, by buying Torre Espacio Castellana, the company which owns the building for €558 million.
• The seller, Grupo Villar Mira, is one of the largest Spanish groups engaged in real estate, power, and financial assets.
• Inaugurated in 2007, Torre Espacio contains 60,000 square metres of office space, spread over 57 floors. It houses the offices of British American Tobacco and Red Bull, as well as the embassies of Australia, Canada, the Netherlands and the UK. Its occupancy rate is 85%. The building’s main tenant is the Villar Mir group itself and its subsidiaries, which occupy 55.1% of the property.

Adam Majeed - Regional editor