In a sale and leaseback transaction, Telefónica is looking to offload two properties located on Calle Irún and Calle Alcántara in Madrid. Telefónica is hoping to net more than €50m for the buildings, which offer 10,000 sqm and 7,000 sqm of space respectively. Under the sales agreement, the Spanish telecom operator will remain the tenant in both buildings for 10 years, with an option to extend.
