Starwood Finalises the Purchase of 5 Buildings from Oaktree for €150M

4 June 2019 – Eje Prime

Starwood is finalising the purchase of four office buildings in Madrid and one in Barcelona from Oaktree and the German company Freo for €150 million in total.

Together the five buildings span a surface area of 78,428 m2 and have 1,323 parking spaces. They are currently leased to a number of companies, such as Indra, BBVA, Air France KLM and Hoist Finances, amongst others.

Specifically, the properties are located on Calle Julián Camarillo, numbers 4 and 6, Avenida de Manoteras, 44 and Valportillo Primera, 13 in Madrid; and on Calle Samontà in Sant Joan Despí in Barcelona.

The US fund is teaming up with the Spanish real estate company Drago Capital, as it continues to strengthen its position in Spain. In recent months, the alliance has purchased assets worth €400 million.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

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