The project will cost over €20 million in total and includes turning the property into vacation rentals and a large retail space.
Madrid, Wednesday, June 11, 2025 – Alting, an asset management company with a consolidated track record in the real estate sector, has acquired a benchmark building at 19 Carrera de San Jerónimo street, in the heart of Madrid. The asset’s strategic location, between the Congress of Deputies and Puerta del Sol, makes it key to strengthening the group’s presence in the capital.
The property was acquired through a competitive process led by consulting firm JLL, with a fund affiliated with New York-based Marathon Asset Management as the owner and seller of the property. Alting won the tender thanks to a proposal that stood out for its solidity, quick decision-making and ability to execute within very tight deadlines.
The building, formerly the Madrid headquarters of Caja Castilla La Mancha and later of Liberbank (now part of Unicaja), has a surface area of 2,600 m² on seven floors and a basement.
“The Alting Group has once again demonstrated our ability to execute complex transactions in very tight time frames, closing this acquisition in less than six weeks and reaffirming our vocation as investors and our commitment to assets with high potential in prime locations,” says Alting Deputy General Manager Javier Marcos. “The total investment, including the purchase and transformation of the building, will exceed €20 million.”
The project includes transforming the building, to be used as vacation rentals and a large retail space. Luis Galiano’s architecture firm RCCyP will be charged with the comprehensive renovation project, including restoration of the façades and common areas.
Strategic expansion in Madrid
With this acquisition, Alting is consolidating its strategic growth in Madrid, where it is currently ready to deliver important projects that include: the emblematic Ruiz de Alarcón 5 building, which has been transformed into a 5* GL hotel and leased to the prestigious Mercer Hoteles chain, and Fuencarral 6, which has been used for vacation rentals and leased to European group Numa. Also in Madrid, Alting Group is working on a project to create a 4* superior hotel project at Gran Vía 3.
About Alting
Alting is an asset management company with more than 45 years of experience that specializes in acquiring, transforming and managing prime real estate assets. With a solid presence in Barcelona, the firm is currently working on an ambitious expansion plan in Madrid, focused on acquiring assets of high strategic value.
About JLL
For more than 200 years, leading global real estate investment and asset management company JLL (NYSE: JLL) has helped its clients acquire, build, occupy, manage and invest in a wide variety of commercial, industrial, retail, residential and hotel properties. The company is on the Fortune 500 list, with annual income over $23.4 billion, operates in over 80 countries worldwide and has a team of 112,000 employees, giving clients the power of a global platform plus local experience. Driven by their desire to shape the future of the real estate sector to build a better world, JLL helps clients, people and communities see a brighter way forward. JLL is a registered trade name and brand of Jones Lang LaSalle Incorporated. For more information, check out jll.com.
For more information: Communication Department | Alting 📧 comunicacion@alting.com 🌐 www.alting.com
