Corestate Capital invests €240m in Spanish tower

Corestate Capital is developing a multi-use tower in Madrid.

The Switzerland-based investment manager said it was investing in the Cuatro Torres scheme.

The company’s Iberian Corestate Capital division, a joint venture with Madrid developer Promociones Y Propiedades Inmobiliarias Espacio, will manage the asset’s development and leasing.

The scheme, on a 67,000sqm plot, allows for a 33,500sqm footprint, with a maximum buildable area of 70,000sqm.

Source: IPE Real Estate