4 March 2019 – Finanzas
Investment in the Catalan real estate sector registered a new record of €2.25 billion in 2018, up by 3.3% compared to 2017, boosted by the office sector, according to data from CBRE.
In fact, offices accounted for 42% (€947 million) of the region’s total investment volume in 2018, up by 25% YoY, as 388,000 m2 of office space was leased. It was followed by the hotel sector, where €422 million was invested, despite a YoY reduction of 39%.
The logistics, retail and residential sectors accounted for the rest of the investment figure, amounting to €289 million, €252 million and €113 million, respectively.
59% of Cataluña’s real estate investment came from overseas, in line with previous years, primarily from the USA (40%), UK (17%), the Middle East-Asia Pacific (16%) and France (14%).
Star operations included Blackstone’s purchase of Edificio Planeta for more than €200 million; Tritax Big Box’s acquisition of the VGP Park Mango for €150 million; and the purchase of the NH Collection Gran Hotel Calderón for €96.9 million.
Original story: Finanzas
Summary/Translation: Carmel Drake