Savills has advised PSP, the Canadian pension fund manager and majority stakeholder of Socimi Silvercode, and Drago Capital on the sale of Castellana 200 to Allianz Real Estate for €250m.

Castellana 200 comprises two office buildings with a Gross Lettable Area (GLA) of more than 20,000 sqm, and a shopping centre of 6,500 sqm, as well as more than 800 parking spaces. The complex is located between numbers 198 and 206 of Paseo de la Castellana in Madrid.

Alejandro Campoy, Managing Director, Savills Spain, comments: “Allianz’s acquisition of Castellana 200 represents the most significant office transaction in the market this year and demonstrates the continued appetite from core investors for real estate assets in Spain.”