Two plots of land where Atletico Madrid's former home, the Estadio Vicente Calderon, stands have been purchased for approximately 100 million euros by Azora and CBRE.
The two plots combine to be about 35,000 square metres and will be used for the construction of 340 homes, split across two luxury facilities with exclusive common areas.
Work will begin in the final quarter of 2020 and should wrap up at the end of 2022.
Gestilar will always be involved in the project, acting as the marketer.
Alexander van Riel, European director of CBRE, has stressed that the operation follows the line of increasing the company's exposure in Spain's residential market.
Javier Rodriguez-Heredia, meanwhile, said that it's a "unique investment opportunity".
Related:
Atletico Madrid
Brightonen
66
The purchase of the Wanda is about 320 kilos ... 120 are financed by Atleti with its own resources and 200 by a mortgage from the Mexican businessman that we will pay with these land sales ... To that we must add the sponsorship of the stadium, Wanda that leaves about 10 million annually, new sponsorships, more members and subscribers, VIP boxes, sporting events, concerts and this year host the final of the Champions ... The profitability compared to the Calderon increased by around 55 percent ... When Things are done well, it is said and nothing happens.
Alaindelon
51
Still ask someone where the pasta comes from Atleti ...
Roerdlizese
47
there are 100 million for this plot and almost another hundred for the two smaller plots. In addition to the impact that the ATLETICO DE MADRID is assuming, in the demolition, removal of rubble and other works, amounts that will end up affecting the buying companies of said plots ... Why not inform before publishing this type of news? Or maybe they are informed but not interested in moving the real quantities ... always the same ... this is the press that we have that minimize the successes of some and extol the miseries of others as great triumphs ...