• Transaction / Assets
    Francesc Macià, Barcelona
  • Seller
    El Corte Inglés
  • Buyer
    private investor
  • € MM

El Corte Inglés Sells Barcelona’s Francesc Macià for More Than €150 Million

4 July 2019 – Richard D. K. Turner

El Corte Inglés sold the Francesc Macià in Barcelona to a private investor for more than 150 million euros, according to an article in Expansion. The group will remain on the premises until December 2020, after having signed a lease with the new owner. El Corte Inglés gained control of the six-floor building, located at Avinguda Diagonal 471, upon its acquisition of Galerias Preciados.

The sale is in line with the retail group strategic divestment plan continues with its process of divestment of non-strategic assets. El Corte Inglés has sold a total of 900 million euros in real estate assets since 2013.

The retail group is also currently in the process of selling a real estate portfolio worth approximately €1.5 billion, including eleven stores and three office buildings, including its headquarters in Hermosilla.

Original Story: Expansion – Rocío Ruiz

Photo: Elena Ramon – Expansion