A company led by Juan Miguel Villar Mir jointly with the Swiss fund Iberian Corestate plans to develop a plot of land in Madrid. The companies have signed an agreement on the project, while the Swiss fund Corestate will invest €240m in the project through Iberian Corestate Capital Advisors. The new investment will be located next to the Cuatro Torres complex, on the Paseo de la Castellana in Madrid. That is not the only asset that Villar Mir owns in the complex. The company invested €400m in Torre Espacio, which opened in 2007.
