A Madrid court instructs Marsans to vacate its headquarters by October 19th 2010

The building, located in the business park of Campo de las Naciones (Madrid), has an area of over 21,000 square meters, according to property consultants, and could bring in more than 600,000 euros a month.

A Madrid court instructs Marsans to vacate its headquarters Campo de las Naciones (Madrid) by October 19th 2010

The Court of First Instance number 82 in Madrid has ordered the eviction of the group Marsans from its headquarters, owned by German property fund Union Investment, which must be done before October 19.

The court has estimated the demand for eviction and was introduced by the German real estate fund last April against the tourist group for non-payment of rent, which amounted then almost 4 million euros.

Union Investment, since early this year, claimed the payment of the rental income, after Marsans stopped payments in November 2009.

The trial was held last June 25 without Marsans being represented, which was acquired on June 9 by Posibilitumm, supposedly dedicated to saving companies in crisis, that company was present at the hearing.

The Hamburg-based fund acquired the building in December 2008, through an operation of "sale & lease back" that allowed Marsans to pocket 115 million from the sale and remain as a tenant for an initial period of eight years.




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