Former Falabella Executive and Chilean Investors Acquire Century-Old Property in Madrid

Under the company 1882 Infantas Investments, a multi-million euro real estate purchase involving Chilean investors was finalized in Madrid on December 20.

The acquisition involves a century-old property located at 27 Infantas Street, in the Justicia neighborhood of the Spanish capital, with the goal of remodeling it and transforming it into luxury residences.

Three groups are participating in the transaction. The first is Bsof Capital, a company linked to Sergio Muñoz, former general manager of Banco Falabella in Chile, who has also held other positions within the retail group and is currently a director at Transbank and Banco Itaú in Colombia. The second group is Avellanar, a Spanish company dedicated to the development and renovation of luxury properties in Madrid and Marbella, associated with the Iranzo family.

The third player is Ventum Group, a Chilean firm led by Felipe Marín—managing partner of the company and former senior executive at Grupo Security. Ventum Group specializes in managing high-net-worth Chilean assets and established an office in Madrid a year ago, following the wave of Chilean investors entering the European market.

The key managers and negotiators of the deal are Muñoz and Avellanar, while 80% of the funding originates from Chilean sources, consolidated by Ventum Group.

According to Sergio Muñoz, the transaction has already been completed, with the preliminary sale agreement signed in September and the official deed dated December 20. In total, the investors will commit €29 million—€17 million for the property purchase and an additional €12 million for renovations to convert the complex into luxury residences. The project is expected to be completed and ready for sale in the first half of 2027.

The property is located near Plaza de Cibeles—within walking distance of Puerta de Alcalá and Retiro Park—in the Bellas Artes district, one of the most photographed areas of Madrid. Built in 1882, the property had remained in the hands of the Pelaez family for generations. Originally landowners from northern Spain, they are now in their fourth generation.

The building features a palatial structure with a carriage entrance, a large central courtyard, a basement, 12 exterior balconies per floor, 25 fireplaces, and original stained-glass windows, as well as a stable. The new owners plan to transform the property into 13 luxury apartments ranging in size from 120 to 450 square meters. The residences will include access to high-end amenities such as a gym, spa, sauna, Turkish bath, swimming pool, and a landscaped carriage courtyard.

The expected price range for the apartments is between €2.5 million and €5.7 million.