Vivenio Residencial SOCIMI S.A., a Spanish REIT owned by Dutch pension fund APG and Renta Corporación has purchased the last of the three plots that the Atlético de Madrid football club had in the Mahou-Calderón area.
The 6,544m² plot, labelled RC4, is reported to have traded for €75 million and has a buildable area of 27,000m². It is the last of the three plots that the football club owned in the area where the club’s former stadium is located, in the Madrid Río neighbourhood.
Earlier, in July, Azora and CBRE GI paid €100 million to buy two plots of land where the Estadio Vicente Calderon stands. The two plots combined have a buildable area of about 35,000m² and the funds plan to develop 340 new homes.
Work will begin in the final quarter of 2020 and should wrap up at the end of 2022. Alexander van Riel, European director of CBRE, has informed that the operation follows the line of increasing the company’s exposure in Spain’s residential market.