Spanish REIT ´Whiteni´ sells three office buildings in Madrid for more than 19 million euros

The buyer is an American ´family office´ investing for the very first time in Spain. Whiteni Group has sold three office buildings in the Fuencarral district in Madrid to a US-based ´family office´.

The three assets are in the industrial park of Fuencarral with a total of 14,000m2. The assets are also consecutively placed along the same street, Calle Manuel de Tovar, very close to Ramon y Cajal hospital and the old factory of Clesa- where Metrovacesa is preparing a new tertiary development.

With the 19,32 million euros received from this sale, the Spanish REIT listed in Euronext continues reaching milestones towards their goals embedded in their business plan and have announced an extraordinary dividend to shareholders.

The assets in Manuel Tovar 45-47 (3,400m2) and 49-53 (4,300m2) were controlled directly by Whiteni RCajal, while the asset Manuel Tovar 43 (6,300m2) was in hands of a subsidiary.

Whiteni RCajal was founded in December 2017 and has been listed in the Euronext of Paris since 2019. In addition to these assets sold, Whiteni has a promotion on 25 apartments in the streets Fomento and Río de Madrid nearby Plaza de España; a project of 12 apartments for rent and a shopping center, Sunset Plaza in Estepona (Málaga).

Whiteni is owned by Álvaro del Castaño Villanueva with 30.86% of the REIT, followed by José María Vallejo Chamorro with a 13.58%, Macarena Gutiérrez with an 11.01% while the company New Denia Investments owns 6.79% of the REIT.