17 January 2018 – Eje Prime
Acciona is starting the year by strengthening its residential real estate business. According to market sources, the company is finalising the sales mandate for five office buildings that are non-strategic for its real estate arm. According to the same sources, the mandate for this sale has been entrusted to JLL.
The properties are located in Barcelona, Sabadell and Zaragoza, and together they span a total surface area 15,000 m², according to El Economista. Depending on the interest that these assets spark, they may be sold as a portfolio or individually.
This move forms part of Acciona’s strategy to generate value from its real estate assets through the sale of offices and hotels to obtain liquidity and whereby accelerate its house-building business.
The company explained its plans in a report issued to the CNMV regarding its accounts for 2016 when the companies real estate assets were worth €1.1 billion.
With 25 years of experience, the real estate arm of Acciona has built 9,000 homes to date, located in Spain, Portugal, Poland and Mexico.
Original story: Eje Prime
Translation: Carmel Drake