PIMCO Prime Real Estate, a leading global real estate investor and manager of the Allianz Group, has plans to invest €40 million ($45 million) to create a prime, mixed-use destination by integrating the adjoined commercial, residential and office areas managed by the firm in Madrid’s Nueva España neighborhood.
This project will be branded NUGA Castellana and is set to be completed in second quarter 2025.
NUGA Castellana’s 66,000 square meters (710,418 square feet) will offer 21,000 square meters (226,042 square feet) of prime office space and 271 homes for rent, integrated with 4,620 square meters (49,729 square feet) of restaurants and 6,600 square meters (71,042 square feet) of retail, leisure and wellness facilities. In addition, office tenants will have access to 1,600 square meters (17,222 square feet) of green spaces and roof terraces.
Pan-European real estate investment and development group Eurofund Group has been contracted to lead the tran
