Odd Capital Buys Former McKinsey Headquarters to Transform It into Luxury Apartment Complex | Companies

Impar Capital, a real estate group specialized in the investment, promotion and development of luxury properties, has acquired the building located at Calle Sagasta 31-33 in Madrid, which until now belonged to SOCIMI Colonial and the former headquarters of the consulting firm McKinsey. The total investment in the project will be approximately 100 million euros and will be financed by Abanca.

Comprehensive restoration work, which will begin in a year and last approximately two and a half years, will transform the site “into an example of architectural excellence and sustainability,” the company said in a statement. Impar Capital assures that they are developing one of the most iconic projects in Madrid. “This building becomes our main asset in the luxury housing sector, setting a new milestone in the capital’s luxury market,” comments Carmen Panadero, manager from Odd Capital.

This historic building with a total cadastral area of ​​10,932 square meters, originally designed by the famous architect Luis de Landecho, represents a significant part of the architectural heritage of Madrid. Known for his eclectic style and ability to combine classical elements with the innovations of his time, Landecho has left an indelible mark on the city’s history, according to the real estate group.

This palace-house is part of an extensive catalog of Madrid buildings designed by the architect, including the Ritz Hotel, the Ateneo de Madrid, the Cuesta de la Vega Palace, and the Santa Cristina Health House and Midwifery School. The building has three towers and its facades face three streets: Sagasta, Covarrubias and Plaza de Alonso Martinez, with more than 80 balconies. It occupies five floors and three basements and includes a parking lot with over 97 spaces, added in the 20th century.

Panadero added: “This project reflects our comprehensive commitment to sustainability and will therefore receive Breeam certification as a sustainable asset. We firmly believe that such measures are necessary to preserve the historic heritage of our cities and contribute to their global sustainability.”

The company specified that every aspect of the project will be carefully planned to ensure the preservation and harmonious integration of historical elements with the new additions. According to the group, this renovation will allow future residents to enjoy an environment that combines classic design with the most demanding qualities and services.

Roberto Perry, CEO of Impar Capital, detailed that the company now has three investment areas: luxury housing, tourist apartments and student accommodation, and added: “We were one of the pioneers in the luxury market in Madrid. A year and a half ago, we set certain goals for ourselves and are already approaching this path. Now, with the latest acquisition of Sagasta 31-33, we have given impetus to the luxury sector.”

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