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offices Market News: Spanish Real Estate Intelligence

Renta Corporación Acquires the Campana Office Building in Barcelona for €22 Million
11 November 2019 – Renta Corporación has acquired the La Campana building, the headquarters of Barcelona’s General Traffic Directorate (DGT) and Commercial Registry for 22 million euros. The firm bought the asset from the Mas Ferrer, Toyos and Ferrero families. The office building is located on Gran Via de les Corts Catalanes in Sants-Montjuïc next to the Ciutat de la Justícia, the Plaça Europa and the BCN Fira complex. The 11-floor building has ​​more than 8,000 m2 of surface area. Original Story: Idealista - Custodio Pareja Adaptation/Translation: Richard D. K. Turner
 
Residential Construction Falls in Barcelona
8 November 2019 – Crane rentals for construction projects fell by 8% in 2018, according to a new study by CBRE. While the cause of the fall is not clear, construction has primarily fallen in the residential sector. New residential construction projects fell by 4% this year, from 272 last year to 260 in 2019. The construction of offices, hotels and commercial establishments rose by 37% to 37 projects, while there were another 25 projects involving residences for senior citizens and students. Original Story: Catalunya Press Adaptation/Translation: Richard D. K. Turner
 
Javier Faus Launches the Meridia IV Real Estate Investment Fund
8 November 2019 – Javier Faus, the president of Meridia Capital and the Múrcia-based Círculo de Economía, announced the launch of his fourth investment fund, Meridia IV. The fund will start with an initial investment capital of 250 million euros and is forecast to invest more than 500 million euros in real estate assets during the coming years. Meridia IV is likely to acquire between 10 and 15 real estate assets, principally offices, industrial warehouses and hotels. Faus added that the fund would focus on Madrid and Barcelona, though he is also slating 10% for investments in Portugal. Original Story: Economia Digital Adaptation/Translation: Richard D. K. Turner