Transaction / Assetsoffice building at Avenida Oeste, 28, in Valencia Sellerthe Valencian families Nebot Oyanguren and Pascual BuyerKategora € MM25
Bilbao-Based Kategora Acquires Office Building in Valencia for Conversion into Apart-Hotel
16 August 2019
The Basque investment firm Kategora has acquired the building that houses the headquarters of Valencia’s PSPV party from the Valencian families Nebot Oyanguren and Pascual. The new owners have given the socialist political party and other tenants one year to vacate the property, which Kategora plans on converting into an aparthotel.
The building, located at Avenida Oeste, 28, in Valencia, is an office building whose owners opted to sell a few months ago. While the building has a market value of 25 million euros, the parties declined to reveal the negotiated sales price. The socialists already had to leave their historic headquarters on Calle Blanquerías de València after having sold it to the Valencian chain Myr Hoteles for 5.8 million euros.
Kategora, which was founded in the Basque Country thirteen years ago by Kepa Apraiz, manage an €80-million portfolio of properties. Its assets include residential properties, tourist apartments and student residences.
Original Story: Levante-EMV – Ramón Ferrando
Photo: E. Ripoll
Adaptation/Translation: Richard D. K. Turner