Cuatrecasas represented Deka Immobilien in the transaction.
Mutualidad de la Abogacía entered into an agreement with the German fund manager Deka Immobilien to acquire a retail property in Calle Serrano in Madrid. The insurance company already has several properties in this central area, including its headquarters at Serrano 9.
The premises acquired are located at Calle Serrano 5 and have a surface area of 2,560 m2 divided into a basement, a ground floor and three upper floors. The current tenant is the fashion company Adolfo Domínguez, that will continue to be the tenant by contractual agreement until at least May 2023.
With this new acquisition, Mutualidad de la Abogacía adds a total of 46 properties in its portfolio, with a total market value of over €831 million. The cost of the acquisition amounts to more than €774 million, with a portfolio net book value of more than €674 million.
Mutualidad de la Abogacía is a non-profit insurance company that offers legal professionals and their families solutions to cover all their welfare and savings needs.
Cuatrecasas advised Deka Immobilien with a Barcelona office team that included M&A partner Bernat Mullerat (Picture), Tax partner Meritxell Yus, M&A associate Lluis Puig, Tax associate Víctor Delgado and Corporate/Commercial junior associate Sergio Morales.
Law Firms: Cuatrecasas;
Clients: Deka Immobilien GmbH;