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New Winds Group buys Hearst's headquarters in Madrid at Patron Capital

Adriana Duran 06/04/2014

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New Winds Group buys Hearst's headquarters in Madrid at Patron Capital

New Winds Group, a property company controlled by Milagros Reyzábal, has purchased from Patrón Capital the building located at number 23 in Santa Engracia, Madrid. The property is occupied by the Hearst communication company.

The acquisition is part of the growth strategy of New Winds Group, in its office real estate division, in which it is planned to continue betting on similar buildings with an added value approach in the medium and long term. Hearst has a rental contract until 2025. Patron Capital has been advised in this transaction by CBRE and New Winds Group, has received technical assistance from the Madrid architecture firm SML. New Winds Group is a Madrid heritage company linked to the Reyzábal family, known above all as the owner of the Windsor building. In recent years it has grown its portfolio of buildings with shopping centers, such as Montecarmelo in the capital of Spain, or office buildings.