Spanish property group Colonial has sold an office building located on Madrid's famous Paseo de la Castellana to the Spanish public insurance group Consorcio de Compensación de Seguros for around EUR 70 mln. The transaction is said to reflect a yield of 5.3%. The building comprises around 11,400 m[sup]2[/sup] of gross surface and 1,700 parking spaces and is let to the Spanish tax agency. Knight Frank advised Colonial.
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