Agbar has sold its headquarters in Barcelona to the venture capital fund Emin Capital for nearly 250 million Euros. The emblematic tower designed by Jean Nouvel has 30.000 square meters and was rebought by the group presided over by Ángel Simón three years ago for 165 million Euros.
Emin Capital is a fund management company lead by the Andorran Jordi Badia with branches in Luxemburg, Barcelona, Lima and Mexico. Recently, it has created a fund with 400 million Euros to invest in Europe. PwC has advised the buyer.
Emin has requested financing from CaixaBank and Banco Sabadell, and its intention is to transform the Agbar Tower into a five star hotel belonging to the Hyatt chain. Agbar should leave the building in six months so that the works may begin.
The emblematic tower was developed by the real estate company Layetana and was opened in 2005, with Agbar as a tenant. The new symbol of the Barcelona skyline changed hands in 2007 for the first time, when the former owners of Almirall, Antonio Vila Casas and Santiago Oller, bought the tower. Three years ago, Agbar invoked its option on the building and acquired the property.