Commerz Real Acquires Two Office Buildings in Barcelona for €132 Million

3 January 2020 Germany’s Commerz Real has acquired two properties currently under construction in Barcelona’s 22@ district from Conren Tramway for 132 million euros. The two office buildings are on the same block and have a total gross leasable area (GLA) of 23,000 square meters.

The first, building B97, is at Calle Badajoz 97 and will have a GLA of 14,000 square meters on 13 above-ground floors. The building will also have underground parking. The second asset, building A160, is at Calle Almogàvers 160. The building will have a GLA of 9,000 square meters on six above-ground floors and underground parking as well.

La firma Commerz Real adquirió dos propiedades actualmente en construcción en el distrito 22@ de Barcelona a Conren Tramway por 132 millones de euros. Los dos edificios de oficinas están en el misma manzana y tienen un área bruta locativa total (SBA) de 23,000 metros cuadrados.

El primero, el edificio B97, se encuentra en la calle Badajoz 97 y tendrá un SBA de 14,000 metros cuadrados en 13 plantas sobre rasante. El edificio también tendrá estacionamiento subterráneo. El segundo activo, el edificio A160, se encuentra en la Calle Almogàvers 160. El edificio tendrá un SBA de 9,000 metros cuadrados en seis plantas sobre rasante y también estacionamiento subterráneo.

Original Story: Eje Prime

Translation/Summary: Richard D. Turner

Principal Real Estate to Acquire Torre Llacuna in Barcelona for €33 Million

16 December 2019 – Goldman Sachs is finalising an agreement to sell the Torre Llacuna in Barcelona’s 22@ district to Principal Real Estate Investors. Market sources say that the asset will go for approximately 33 million euros.

The Torre Llacuna has tenants including the tech firms Social Point and Localret and is located in one of the most valuable areas of the district, nearby the Torre Glòries.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Corestate to Invest €30 Million in New Student Residence in Barcelona

21 October 2019 – Luxembourg-based Corestate Capital Holding will invest thirty million euros in developing a new student residence at Calle Pallars 489, in the city’s technological district, 22@, near then Pompeu Fabra University.

The building, which should be ready by 2022, will have a net leasable area of 4,550 square meters, with 257 flats for a total of 265 students. The new student residence will also have a co-working space, as well as two terraces, a swimming pool and a gym.

The company’s student housing provider, Youniq, will operate the residence. That firm already manages four other student residences in Spain.

Original Story: Eje Prime – Marta Casado Pla

Adaptation/Translation: Richard D. K. Turner

Catella Acquires Office Building in Barcelona’s 22@ for €17 Million

10 September 2019 Catella Asset Management has acquired a 5,800-m2 office building in Barcelona’s 22@ district for 17 million euros. The building has one below ground and  four above ground floors, along with a terrace. Catella acquired the asset for the German office fund Sarasin Sustainable Properties – European Cities.

The building is currently occupied by Telefónica and a digital marketing company. It is located in the neighbourhood of La Sagrera, next to the 22@ district, in an where which will eventually house a new high-speed railway station.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Meridia Capital Begins Trading on Euronext Access

2 September 2019

Meridia Capital, which specializes in real estate investment in Barcelona’s 22@ technological district, began trading on Euronext Access at the end of July.

Among the socimi’s assets is an ambitious project consisting of two newly constructed office buildings and two residential buildings.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Merlin Acquires Old Warehouse in Barcelona’s 22@ District for New Loom Co-Working Office

30 July 2019 – Richard D. K. Turner

Merlin Properties, the socimi managed by Ismael Clemente, has acquired an old warehouse located at Calle Pere IV, 128, in Barcelona’s 22@ district. The developer plans to demolish the existing structure and construct a new building for use by its co-working subsidiary, Loom. Merlin expects Loom’s first office in the city to be ready by 2021.

Original Story: Eje Prime

Amundi Acquires Co-Working Project from Conren Tramway for €55 Million

25 July 2019 – Richard D. K. Turner

Amundi, a major French asset manager, acquired an office building under development at Calle Sancho de Ávila, 65, in Barcelona’s @22. The firm paid Conren Tramway 56 million euros for the building, which is still under construction.  The building, however, has already been fully leased by Wojo, a French co-working firm owned by Accor.

The 7-floor building will have 8,300 square meters of surface area, parking facilities, storerooms, changing rooms and a rooftop terrace. Conren Tramway recently signed a leasing agreement whereby the Wojo will take over the property at a rate of  22.3 euros per square meter per month

Amundi’s operations in Spain began last year with its acquisition of the Portico building, in Madrid’s Campo de las Naciones, for approximately 130 million euros.

Original Story: Expansión – Marisa Anglés


Henderson Park and Hines Acquire Land in Barcelona’s 22@ for New Student Residence

19 July 2019 – Richard D. K. Turner

Henderson Park and Hines have acquired several plots of land in the 22@ area of Barcelona, ​​ to build a 350-bed student residence, a 3,610-m2 office building and a 176-m2 store. The project is the partner’s third development together and is expected to be ready in time for the 2020 student year.

Original Story: Expansión – Rocío Ruiz

Corestate Launches its Business Apartment Venture in Spain

28 March 2019 – Eje Prime

The Luxembourg-based fund manager Corestate has launched a business apartment venture, Joyn, aimed exclusively at executives travelling to other cities for a relatively long period of time.

The company plans to open three business apartment blocks in 2019, two in Madrid and one in Barcelona, with approximately 200 beds each. It is already searching for assets in key locations of each city, such as La Diagonal and 22@ in Barcelona and Las Tablas in Madrid.

The apartments will each have a small kitchen, study and living room. There will also be common areas in each building to encourage networking. The model has already proved successful in Munich, where Corestate has been operating two such properties since 2018.

In addition, the company’s agreement with Medici Living is starting to take shape – the intention is to close this year with 450 co-living beds in Spain.

Original story: Eje Prime (by Marta Casado Pla)

Translation/Summary: Carmel Drake

HP Leases Entire Building in Madrid’s 22@ from UK & European Investments

9 October 2018

The asset, located at 66 Calle de Tangér, is owned by UK & European Investments and has five floors and 7,200 square meters.

The US-based tech giant is moving to Madrid’s 22@. Barcelona’s technology district, a benchmark in today’s office market, will now play host to Hewlett & Packard (HP), which has just leased an entire office building at Calle Tangér from UK & European Investments, the real estate developer announced.

The property, located at 66 Calle de Tangér, a centrally located street in the district, has five floors and 7,200 square meters of surface area, 800 square meters or which are on the roof, with stunning views of Barcelona.

The American technology will set up shop next door to other giants of the tech sector, including Amazon and WeWork in the Luxa office complex, which is owned by Catalana Occidente. Other large international firms, mostly related to technology, have also recently moved to the area: Facebook moved into Merlin’s iconic Torre Glòries, while Schibsted and King will share a space in a new building that Colonial is building in 22@.

UK & European Investments acquired HP’s new home in Barcelona in July 2016. The asset underwent a complete rehabilitation, converting an industrial building into an office building, the first in Barcelona to have a Leed Platinum certificate. The London architectural office of Buckley Gray Yeoman (BGY) and Spain’s Deerns participated in the project.

UK & European Investments, headquartered in London and headed by its CEO, Barney Kelham, specialises in the development of prime industrial-style office spaces. In Spain, where the firm has an office, the company’s rehabilitation of the 66 Calle de Tangér building is one of several projects that the group has underway in the country, with a gross total development value of more than 130 million euros. Among them, two residential projects in Madrid and Marbella stand out.

TLG, a private investment firm that operates in eleven countries, with a significant presence in the United Kingdom, France, the United States, Germany and Spain, owns the company. The firm is active in fashion distribution, fund management, hotels and venture capital.

Original Story: EjePrime

Translation: Richard Turner