Santander generates 85m euros from sale of Madrid buildings

Banco Santander has generated a gross capital gain of approximately 85m euros from the sale of a group of buildings in Madrid, according to a statement issued by the bank on Friday morning.

Banco Santander has generated a gross capital gain of approximately 85m euros from the sale of a group of buildings in Madrid, according to a statement issued by the bank on Friday morning.

The buildings, known collectively as the Canajelas Complex, include calle Alcal No.s 6, 8, 10, 12, 14, Carrera de San Jernimo No.7 (formerly No.9) and Plaza de Canalejas No. 1.

The total consideration amounted to €215m. In addition to the sale price, the consideration included a financial consideration arising from the payment deferral offered to the buyer which was calculated at a 5% annual nominal interest rate.

Without including the financial charge, the sale price was €198.18.

Banco Santander stated that it would continue to occupy the Canajelas Complex for an additional maximum period of five months, without accrual of income or consideration.

MF

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