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offices Market News: Spanish Real Estate Intelligence

Pontegadea Leases Seven Floors in Torre Foster to Amazon
20 July 2019 – Richard D. K. Turner After buying part of the headquarters of Amazon in the United States, Pontegadea has sealed another deal with the American e-commerce giant, leasing seven floors of offices in the Torre Foster to the firm. Pontegadea, the investment vehicle of Amancio Ortega, the founder of Inditex, leased the space, totalling 11,550 square meters for between 23 and 28 euros per square meter. Mr Ortega acquired Torre Foster almost three years ago when the tower had been fully leased to the oil company Cepsa. Original Story: El Confidencial – Ruth Ugalde Photo: Pontegadea.
 
Solicius Acquires Office Building Housing BBVA in Vitoria
17 July 2019 – Richard D. K. Turner Solicius, the socimi owned by the Mazabi Group, has acquired a property in Vitoria. The asset is a building located at Calle Eduardo Dato, 12, in one of the most consolidated areas of the city. The almost 2,500-m2 building is valued at more than 10 million euros and is currently fully leased to BBVA. The socimi is currently building up its portfolio of properties before an intended stock market listing sometime next year. Solicius’ goal is to reach €1 billion in assets. At the moment, its diversified portfolio consists of more than twenty properties. Original Story: Idealista  
 
Metrovacesa to Invest Up to €1 Billion in Four Major Developments
17 July 2019 – Richard D. K. Turner Metrovacesa, a real estate developer owned by  Banco Santander and BBVA, expects to build a total of 6,000 homes, along with office buildings, hotels and commercial premises around Madrid, Barcelona, ​​Sevilla and Valencia over the coming six years.  The firm is forecasting a total investment of one billion euros. The project that is furthest ahead is 67-hectare complex in Palmas Altas, Seville. Metrovacesa is investing 400 million euros to develop 2,189 homes. Original Story: EjePrime