Transaction / AssetsOffice building on c/Joan Miró SellerLar España BuyerAEW € MM28.8
AEW Buys an Office Building in Barcelona from Lar for €28.8M
31 January 2019 – Eje Prime
The German company AEW has completed the purchase of a building in Barcelona from Lar. The real estate fund manager has completed the acquisition of a building from the Socimi, which is on a mission to divest its non-strategic assets.
The purchase of the building, which is located on Calle Joan Miró in the Catalan capital, has been closed for €28.8 million. The property, which has an approximate surface area of 10,500 m2, will be subjected to a comprehensive renovation for the construction of offices.
“The strong labour market and the limited available supply has convinced us to enter the office market in Barcelona for the first time”, explained Carsten Czarnetzk, Head of Operations at AEW in Spain.
AEW is one of the largest administrators of real estate assets in the world, with assets worth €63.5 billion. AEW has more than 600 employees, and its main offices are located in Boston, London, Paris and Hong Kong. The group opened its office in Spain in January 2017 and has completed more than €400 million in transactions since then.
Original story: Eje Prime
Translation: Carmel Drake