Thor spends €75m on mixed-use Madrid asset

Global real estate specialist Thor Equities has strengthened its presence in Madrid with the acquisition of a mixed-use asset on Gran Via from New York-based Angelo Gordon for €75 mln.

Comprising 4,480 m2 of space, the circa 1,172 m2 destined for commercial use is largely occupied by Spanish fashion chain Sfera. The remainder is residential, with an event space on the 13th floor.

The US firm has been expanding in the Spanish capital in recent years, after entering the Madrid market in 2015 with a deal for 9 Puerta del Sol. The new acquisition brings its Spanish holdings to four, including Puerta del Sol 5 and 11.

It sold Calle Fuencarral 16 to Union Investment in January of this year.



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