Iberian Lawyer - January 6, 2009
Uría Menéndez has advised Grupo Marsans in the sale and leaseback of its headquarters in the emblematic "Edificio Pórtico" in Campo de las Naciones in Madrid.
The transaction consisted of the sale of the property for approximately €115 million to the German investment fund Union Investment Real Estate (UIRE), and the subrogation of the purchaser to the mortgage loan granted by Eurohypo for the building’s original acquisition.
A lease agreement for the entire premises was entered into simultaneously to the formalising of the sale and purchase deed, with the vendor thus becoming the lessee. The initial term of the lease is eight years, the lessee being entitled to extend this term for two additional successive periods of three years each.
Uría Menéndez’s team included Diego Armero, Maria Luisa Vara, Pablo Garrote and Francisco Bengoetxea (real estate); Carlos López Quiroga (transport); and Guillermo Canalejo and Francisco de la Puente (tax).
UIRE was advised by Gómez-Acebo & Pombo and Eurohypo by its own in-house lawyers.
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