ING has provided a seven-year term syndicated loan of EUR280 million to finance the acquisition of the Torre Espacio office building in Madrid.
In November 2015, the Filipino HNWI Dr Andrew L Tan acquired the company Torre Espacio Castellana SAU from Grupo Villar Mir SA.
ING acted as the Sole Bookrunner, MLA and Agent.
The Torre Espacio office building is a modern prime landmark class A building located in the Cuatro Torres Business Area in Northern CBD Madrid. The asset comprises 60,142 sq m GLA, 56 floors above ground and 1,173 parking spaces. Completed in 2008, it is considered one of the most emblematic office buildings in Madrid and one of the most modern buildings worldwide.
Source: PropertyFundsWorld