Here stood the house of Baltasar de Urquiola, Captain of the Navy and General Antonio de Urquiola’s son. In the middle 17th century his properties get seized, as he was ruined because of some unfortunate financial operations. His assets, which were then purchased by Pedro de Echave Asu, included Juan Sebastian Elcano’s coat of arms and archive. Since Elcano was a highly regarded figure, his heritage was considered to be a source of prestige and honour. In fact, he had been the first navigator to achieve Earth’s circunnavigation.