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Invesco Buys A Building In Barcelona From Deka

24 November 2016 – Expansión

The German real estate manager Deka has earned around €10 million in just three and a half years from the sale of a 4,000 m2 building, containing office space and commercial premises, in the centre of Barcelona. The property, which is located on Ronda de Sant Pere, 5, next to the Corte Inglés in Plaza Cataluña, was acquired by the fund WestInvest InterSelect – managed by Deka – in May 2013 for around €19 million. Now, the US manager Invesco Real Estate has paid around €29 million for the building in a transaction brokered by Savills. Yesterday, the consultancy firm highlighted the interest that the Catalan capital is receiving from overseas investors and the “shortage of available products”.

Original story: Expansión (by J.O.)

Translation: Carmel Drake