JLL advises on the sale of the Triángulo Princesa Complex in Madrid
JLL acted as one of the advisors to the Seller on the disposal of the Triángulo Princesa Complex in Madrid to Brookfield. Located in the Arguelles neighbourhood, the 63,000 sq.m. Triángulo Princesa Complex features a 4-star hotel with 423 rooms, a 4,600 sqm vacant office building, six retail premises, and a parking. The asset is strategically located within walking distance from the revamped Plaza España which reopened in November 2021, featuring 70,000 sq. m. of new pedestrian and green spaces, contributing to the improved attractiveness and better connectivity of the Complex’s immediate surroundings.
This is Brookfield’s largest addition to their Selenta platform which they acquired in 2021 and complements well their existing portfolio of assets in Barcelona, Marbella and Tenerife.
Madrid continues to show strong performance in a post-Covid environment, having recorded the fastest RevPAR recovery in key Western European cities at 41% in 2021 (vs. FY 2019), trading ahead of Paris and Milan (source: STR).
JLL acted on behalf of the Seller.
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