The Lack of a Spanish Government Halts Aena’s Real Estate Ambitions

14 October 2019 The airport operator Aena has yet to get approval to go ahead with construction on two residential developments around Madrid-Barajas and Barcelona-El Prat due to the lack of a political agreement to form a new Spanish government. The firm had hoped to start the works in Madrid and Barcelona this year. However, the plots of land are still untouched.

Aena’s project in Madrid will occupy around 200,000 square meters of land in a total investment forecast at €2.997 billion over the next 40 years. Existing plans divide the space into four areas: a logistics hub, airport services, an aeronautical maintenance centre and leisure areas.

In Barcelona, ​​the 300,000 square meter area will have a total investment of €1.264 billion. The project will try to attract technology companies and logistics platforms as well as hotels, restaurants and offices to service the airport.

Funds that invest in the airport operator have been pushing the government to install an independent CEO, separate from any governmental changes, to facilitate work.

Original Story: Economía Digital – Carles Huguet

Adaptation/Translation: Richard D. K. Turner

Aldara Building Three New Student Residences in Oviedo, Salamanca and Barcelona

14 October 2019 Aldara, a Spanish developer, is building three new student residences in Oviedo, Salamanca and Barcelona. The three new developments will add a total of 983 new beds to the company’s portfolio in a combined investment of sixty million euros.

The development in Oviedo is in the early stages of construction, with plans for 317 beds to be ready by May 2021. The complex consists of three buildings, with an area of 2,739 square meters and parking for 77 vehicles.

The project in Salamanca will have 270 rooms (July 2021), while the one in Barcelona will have room for 400 students (July 2022).

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Invesco Real Estate Acquires Casa Oller in Barcelona

14 October 2019 Invesco Real Estate has acquired the building at Gran Vía 658, in Barcelona. The real estate investment management company will convert the modernist property, known as Casa Oller, into luxury flats.

The firm intends to build a total of eleven two- to three-bedrooms flats, including a penthouse, with surface areas exceeding 150 m2. The development will include common areas with an outdoor pool, gym and spa. The flats, which will be ready in 2020, are already on sale by Colliers International, with prices starting at €1.5 million.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Aticco Grows in Barcelona and Plans Debut in Madrid for Next Year

24 September 2019 – The Barcelona-based co-working firm Aticco is forecasting total revenues of approximately five million euros this year as it plans to expand to Madrid in 2020. Aticco expects to close out the year with a portfolio of leased space totalling 26,000 square meters. That figure includes its most recently negotiated space: 5,500 m2 at Avenida Josep Tarradellas 123, in Barcelona.

The firm will also open a new 6,300-m2 space at Calle Pallars, 108, this week. The fully leased offices include more than 700 square meters of open areas and common spaces, with a gym, meeting rooms, auditoriums, event spaces and a cafeteria.

Original Story: Eje Prime – Marta Casado Pla

Adaptation/Translation: Richard D. K. Turner

 

ARC Homes to Build New Residential Development in Rubí

21 September 2019 – ARC Homes will invest 40 million euros to build a new development of semi-detached homes in Ca n’Oriol, in an area between Rubí and Sant Cugat del Vallès, Barcelona.

The developer will build 104 three-to-four bedroom homes for delivery in 2021.

Original Story: La Vanguardia / EFE

Adaptation/Translation: Richard D. K. Turner

Amazon Selling off Logistics Centres throughout Europe

17 September 2019 Amazon has begun a process whereby it is selling off its logistics assets in Europe in a series of sale & leaseback operations. Last month, the e-commerce giant sold three platforms in Barcelona, ​​London and Paris for about 400 million euros to the Korea Investment Corporation (KIC), Korea’s sovereign fund.

The firm sold the logistics centres at Avonmouth (Bristol, servicing London), Brétigny-sur-Orge (Paris) and El Prat (Barcelona), one of the most important in southern Europe. The operation would have closed last August.

At the same time, Goodman Real Estate is in the process of selling the logistics platform it is in the process of building for Amazon nearby Seville. Goodman, which is negotiating with M&G, expects to raise approximately to €200 million with the sale.

Original Story: El Español

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

Barcelona’s Office Market Surges Two Years After Push for Catalonian Independence

4 September 2019

Barcelona’s office real estate market continues to break new ground as a record 256,000 m2 of office space were allocated in the first six months of the year, 30% more than the year before. The Catalan capital is considered one of the world’s best cities to work in, as evidenced by the fact that 48% of the allocations went to foreign firms.

The volume of investments also set a new record, reaching more than 600 million euros in the semester, a ten-year high. The increasing inflow of foreign investment capital is boosting the market, leading to the development of new buildings and a flurry of portfolio sales as firms sell off non-strategic assets to focus on their core activities. Two years after a referendum on Catalonian independence led thousands of companies to flee the region, new companies and investors are pouring in.

Tech companies have accounted for 27% of the allocated surface area, while co-working firms had another 22%. In the first six months of the year, co-working firms have snapped up 56,080 m2 of offices, more than the total for 2018.

The fervour in the market is leading to tightening supply, and the office vacancy rate has fallen to just 6.8%. That fall has led office rents in Barcelona to increase steadily for the last six years, and rents went up by 3% in the first semester of this year, largely powered by the prime and new business districts.

Original Story: El Confidencial

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

Vivenio Acquires Three Apartment Blocks in Madrid and Barcelona

29 August 2019

Vivenio, a socimi owned by Spain’s Renta Corporación and the Dutch fund APG, has acquired three residential buildings, all currently occupied by rental tenants. The assets, which the socimi purchased from Fidere, will add a total of 500 new flats to Vivenio’s portfolio. Two of the apartment blocks are in Madrid and one is in Barcelona.

The deal, which is tied to a series of conditions, will cost the socimi a maximum amount of 85 million euros. The socimi has already deposited 25% of the total.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner