• Transaction / Assets
  • Seller
  • Buyer
  • € MM

German Landing on Paseo de Gracia for €24.000 per Square Meter

No, this is not a flashback from the spring in 1939 and Angel Viñas has not written this article. We talk about the most interesting real estate transaction of the summer 2013, althought it has almost slipped unnoticed. (…) For the first time since the beginning of the recession in 2007, a core capital appears on the Spanish land.

(…) On August 20th, a German real estate fund, GLL Real Estate Partners, acquired Tree Inversiones, a vehicle consisting of clients of Deutsche Bank, Banca March and international funds: AREA Property Partners and Europa Capital – BBVA´s branch office at 25 Paseo de Gracia Street in Barcelona. 

The office (…) of total 1.800 square meter space has been sold for 31.1 million Euros. The amount indicates a price set at 24.000 €/m2. (…) GLL will be obliged to find a first-class tenant and provide them long-term rent and protection against inflation. (…).

 

Source: El Confidencial

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