Cushman & Wakefield announced today the signing of an agreement between Drago
Real Estate Partners and Prisa to purchase a portfolio of office blocks comprising 3 buildings,
two of these located in Madrid and one in Barcelona, belonging to the communications group. The
operation will take the form of sale & leaseback and the amount agreed is 315 million
In late 2007, Grupo Prisa, owner of newspapers like El País and Cinco Dias in Spain and of
Media Capital Group in Portugal (that includes the Portuguese television channel TVI, Lux, Lux
Woman and Maxmen magazines and Comercial Radio station, among others), announced its intention
to dispose of the three properties, comprising two buildings in Madrid, one located at Gran Vía
32 (Grupo Prisa’s headquarters) and the other on Calle Miguel Yuste (El País’s headquarters)
and one building in Barcelona, located at Calle Caspe, 6 – 20 (Radio Barcelona’s head office).
The portfolio includes a total of 71,873 m2 and 344 parking spaces, as well as various retail
premises in the Gran Via building, with prestigious tenants such as Zara, Mango, H&M and
The purchase is to take place through a consortium led by Drago Real Estate Partners. The
financing has been provided to Drago by the Banco Santander and the Bayerische Landesbank. Law
firms Gómez-Acebo & Pombo has advised Drago Real Estate Partners, Uría y Menéndez has
advised Prisa and Clifford Chance has advised Banco Santander and Bayerische Landesbank.
Cushman & Wakefield has advised the buyer in the sale process and CB Richard Ellis has
acted on behalf of Prisa.
Drago Real Estate Partners is a property investment company which is managed by Mare Nostrum
“From the beginning, we were very interested in this opportunity as it was a high quality
property portfolio with leasing agreements involving highly reputable companies including the
Grupo Prisa itself, Zara, Mango, H&M and Sfera. This transaction, coupled with thepurchase,
in November last year, of 1,152 Banco Santander offices, together with Sun Capital and Pearl,
demonstrates Mare Nostrum's capacity to raise finance and manage assets”, commented a Mare
Nostrum Capital Managers spokesman.