Torre Picasso

Torre Picasso is a skyscraper in Madrid, Spain designed by Minoru Yamasaki. From 1988 until 2007 it was the tallest building in Madrid, measuring 515ft and with 43 floors. Torre Picasso is located next to the Pablo Picasso Square, within the commercial complex AZCA along the Paseo de la Castellana.HistoryPlanning and constructionThe Torre Picasso was part of a plan to build a large block of modern buildings in the expansion area of northern Madrid. Construction of this area, better known as AZCA, began in 1970 and in 1975 developer, Unión de Explosivos Río Tinto, S.A., awarded design of the tower to American architect Minoru Yamasaki, in collaboration with Jorge Mir Valls and Rafael Coll Pujol. In 1980, Yamasaki received a license to building the highest office complex of Madrid.Construction began late 1982, and the building opened in December 1988. During this period, construction stalled for a period until new owners Portland Valderrivas S.A. and Inmobiliaria Asón S.A., purchased the incomplete structure and relaunched work in 1985 under the direction of architect Fernando Alas. In 2002, Fomento de Construcciones y Contratas (FCC) regained control of the building through a purchase of Portland Valderrivas. FCC owned the tower until December 2011 when Pontegadea Inmobiliaria, a division of Industria de Diseño Textil, S.A. purchased the structure for €400 million. PER Gestora Inmobiliaria, S.L.manages the building.