ARGIS buys Manpower’s Madrid headquarters from Blackstone and Santander to build flats

The ARGIS fund has acquired the Talen Tower office building, located in Avenida de Burgos, Madrid, for approximately €50 million. Its objective is to transform the property into an exclusive residential project, with 71 luxury homes. In addition to the purchase, ARGIS will carry out a comprehensive refurbishment of the building to adapt it to its new use.

The building, which has 6,355 m² distributed over 11 floors and three basements, stands out for its unique design and its location on a large enclosed plot. This configuration gives it great visibility, which will allow it to become an architectural landmark in the city, with exclusive outdoor common spaces for future residents.

With this transaction, ARGIS is reinforcing its strategy of converting offices into residential units, a trend that has been gaining momentum in recent years. The fund, which specialises in the refurbishment of assets in prime locations, already has other projects underway, such as Flipco Retiro and Flipco Ifema, consolidating its position as a benchmark in the urban regeneration sector.

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