MINNEAPOLIS-BASED investment fund Castlelake purchased the Spanish National Research Council’s old headquarters on Almeria City’s Paseo for an undisclosed sum.
The Ministry of Defence acquired the building last year, ceded by Hacienda as compensation after the Ministry made over properties to the Junta de Andalucia.
Earlier, Almeria city hall passed up the opportunity of buying the building when the current mayor was Urban Development councillor.
The new owners will convert the building into apartments although David Martinez, Castlelake’s Spanish director was unable to say when rehabilitation would start. “That’s something that has yet to be decided,” he said.