China's Fosun buys Sydney offices building

Edificio Espana

Chinese commercial property company Dalian Wanda Group purchased Edificio Espana, a historic skyscraper, in Madrid, Spain, for 265 millioneuros ($361 million) in June, 2014.

Wanda purchased the building from Spain's biggest bank Santander, who bought the building just before Spain's property bubble burst in 2007, for nearly 390 million euros.

The 28-story Edificio Espana, Spain's tallest building when it was built in the late 1940s, is a central landmark in Madrid and used to house a hotel, though it has been vacant for several years. [Photo/IC]