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25 November 2004
Renta Corporación purchases a new building in Madrid for 25 million euros

Renta Corporación purchases a new building in Madrid for 25 million euros

Renta Corporación has just closed a deal to buy a new housing block in Madrid, at a cost of around 25 million euros. Located at Calle Montesa 39 in the central Salamanca neighbourhood, the building was erected in 1920 and is one of a collection of classified heritage buildings to be found in the Spanish capital.

Renta Corporación plans to carry out important and extensive renovation work to the building, the aim being to preserve and protect this important piece of architecture. The well-known architect Manuel del Río has been entrusted with the work.

Renta Corporación has acquired 39 buildings since January 2004, involving an investment in excess of 230 million euros. Although Madrid and Barcelona represent the hub of its activity, the company has also made significant purchases in other Spanish cities where it also operates, such as Seville, Malaga and Palma de Mallorca. The company has also made its presence known in Paris, where it started investing towards the end of 2002.

María Cura / Violant Flores. Telf +34 93 217 22 17 vflores@llorenteycuenca.com

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