europapress.es (as translated by Google) - May 18, 2010
Caja Madrid has reached an agreement on 'sale and leaseback' in Las Rozas (Madrid) with the German fund SEB ImmoPortfolio Target Return Fund, the manager of SEB Asset Management, by which the entity obtained a revenue of 108 million and a total capital gain of EUR 48 million, reported the state.
The commitment of the lease is 30 years. Caja Madrid use the income to strengthen its capital ratios and improve their creditworthiness, in line with the strategy followed during the first quarter of the year, which ran the sale and lease back 83 branches with total capital gains obtained from 55.2 million euros.
The transaction Caja Madrid reserve a right of first offer over the lease period and in case of transfer by the lessee.
The building, which houses the computer-based Caja Madrid, is in the Madrid suburb of Las Rozas, is National Architecture Award and has an area of 43,700 square meters with 537 parking spaces.
The property is part of a business park established in the mid-nineties with excellent access and communications in the northwest axis of the Community of Madrid.
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