The Madrid office of Eversheds has advised Credit Suisse on the sale of the former headquarters of Philatelic Forum in Madrid for €30.8 million to Mutua Madrileña, one of the main insurance companies in Spain.

The building acquired by Mutua Madrileña, which belonged to a real estate Credit Suisse fund, is located at José Abascal 51, in the best business area in Madrid and along the Paseo de la Castellana. The new building has a total area of 3,600 square metres which are distributed over 7 floors, plus 62 parking spaces.

The team was led by partner Rafael Arráez supported by associate Ignacio Fraile.

Rafael commented:

“Working for CSRE on this transaction has been a pleasure. We have connected very well with both the Spanish and Swiss teams of CSRE and really look forward to working with them on new transactions”.