AEW Europe City Retail, a German fund specializing in prime investment in the best shopping streets in Europe, has just signed the sale of the commercial premises located in Serrano 7 - with 750 sqm of gross leasable area (SBA) - to the Mutualidad de la Advocacia. Cushman & Wakefield has advised the seller on the operation, a competitive process with offers received through the real estate consultancy, which has acted in co-mandate with Savills Aguirre Newman.
The local located in Serrano 7, with two floors (street and first floor), currently host one of the main branches of Caixabank in the Salamanca district. The asset was acquired by AEW in 2016 from the Ingria Investment joint venture and, after a reform process, was rented at the beginning of the year from the financial entity. Cushman & Wakefield has advised on the three operations of the premises: the first operation of sale to the fund, the rental process and the newly closed sale to the Mutualidad de la Advocacia.