Irish property investor Derek Quinlan was part of the consortium that agreed to purchase Banco Santander's headquarters near Madrid for EUR 1.9 bn in January, Irish newspaper Sunday Business Post has reported. The transaction reflected a yield of 4.5%, with the bank agreeing to rent the site for 40 years and having the right to buy back the property at an undisclosed price. The deal is expected to be signed in March and will raise a EUR 605 mln capital gain for Santander.
Premium subscriber content – please log in to read more or take a free trial.
