Tag: barcelona

Goodman Real Estate Rings Out 2019 With Acquisition in Madrid

4 January 2020 – Goodman Real Estate has finalised its acquisition of a plot of land in Getafe, Madrid, from Lonestar, CaixaBank and the Masaveu family for thirty million euros. The land, where Goodman will invest 90 million euros to build a new logistics facility, is located in the southern zone of Madrid.

The deal is an example of the type of logistics operations that are driving the Spanish sector, as the rise of e-commerce and a focus on last-mile facilities are ramping up demand. According to estimates by JLL, investors ploughed a record 1.818 billion euros into the sector in 2019, an increase of 27.5% year-on-year.

Approximately 50% of the logistics facilities sold in 2019 were in Madrid, while a further 25% were located in Barcelona. Secondary markets, such as Bilbao and Zaragoza, are also gaining prominence. The increase in investor interest has also squeezed profitability in the two largest markets, falling from 5-6% to just 4.75%.

En español

Goodman Real Estate ha finalizado su adquisición de un terreno en Getafe, Madrid, de Lonestar, CaixaBank y la familia Masaveu por treinta millones de euros. El terreno, donde Goodman invertirá 90 millones de euros para construir una nueva plataforma logística, se encuentra en la zona sur de Madrid.

El acuerdo es un ejemplo del tipo de operaciones logísticas que están impulsando el sector español, ya que el aumento del comercio electrónico y un enfoque en las instalaciones de última milla están aumentando la demanda. Según las estimaciones de JLL, los inversores invirtieron un récord de 1.818 millones de euros en el sector en 2019, un aumento del 27,5% interanual.

Aproximadamente el 50% de las instalaciones logísticas vendidas en 2019 se encontraban en Madrid, mientras que otro 25% se encontraba en Barcelona. Los mercados secundarios, como Bilbao y Zaragoza, también están ganando protagonismo. El aumento en el interés de los inversores también ha reducido la rentabilidad en los dos mercados más grandes, cayendo del 5-6% a solo el 4.75%.

Original Story: El Confidencial – E. Sanz / C. Hernanz

Translation/Summary: Richard D. Turner

Housing Price Increases Slow Down in Madrid and Barcelona

3 January 2020 – The average price per square meter for a residence in Spain reached 1,373 euros in the last quarter of 2019, an increase of 2.6% year-on-year, according to a report by Tinsa. That figure represents the lowest inter-annual growth in almost three years.

Market watchers believe that the frenetic expansion of recent times in Spain’s principal markets is reaching an end. Average prices in Madrid rose by 1.8% between October and December, while falling by 0.8% in Barcelona. Year-on-year growth stood at 3% and 2.9% respectively.

Spain’s secondary markets are now the main drivers of growth. Palma, Santa Cruz de Tenerife, Valencia, Malaga, Zaragoza and Seville all saw increases of over 7% in 2019.

El precio medio por metro cuadrado de una residencia en España alcanzó los 1.373 euros en el último trimestre de 2019, un aumento del 2,6% interanual, según un informe de Tinsa. Esa cifra representa el crecimiento interanual más bajo en casi tres años.

Los observadores del mercado creen que la frenética expansión de los últimos tiempos en los principales mercados de España está llegando a su fin. Los precios medios en Madrid aumentaron un 1,8% entre octubre y diciembre, mientras que cayeron un 0,8% en Barcelona. El crecimiento interanual se situó en el 3% y el 2,9%, respectivamente.

Los mercados secundarios de España son ahora los principales motores del crecimiento. Palma, Santa Cruz de Tenerife, Valencia, Málaga, Zaragoza y Sevilla registraron aumentos superiores al 7% en 2019.

Original Story: Eje Prime

Translation/Summary: Richard D. Turner

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

Barcino Acquires Apartment Building in Barcelona for €4.2 Million

18 December 2019 – The socimi Barcino has acquired an 11-flat apartment building in the centre of Barcelona for 4.2 million euros. The socimi paid 20% of the price using equity, partially guaranteeing the rest of the payments with a mortgage loan on the property.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Investment in Barcelona’s Office Market Reaches 20-Year High

17 December 2019 – Barcelona’s real estate office market is amid an investment boom and is projected to end the year with record investments of 1.7 billion euros. That figure is the highest of the last twenty years, according to a study by Savills Aguirre Newman.

In the year to date, investments in offices in Barcelona have hit 1.4 billion euros. Market sources also expect that another €300-€400 million in deals will be finalised before 2020. Investors, 75% of whom are from outside Spain, have concluded acquisitions of more than sixty buildings, totalling more than 400,000 square meters of surface area, in 2019.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Galil Capital Acquires Building in Barcelona for €4.2 Million

17 December 2019 – The socimi Galil Capital has acquired a residential building in the neighbourhood of La Sagrera in Barcelona for 4.2 million euros. The asset, located at Calle Concepció Arenal 79, consists of 24 flats and three stores on a basement, ground floor and six upper floors. The building has a total of 2,873 square meters of surface area and is nearly fully leased.

The socimi financed the acquisition through its last capital increase and a €1-million mortgage linked to a part of the property at Calle Còrsega 689 in Barcelona.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

XPO Logistics to Invest in Last Mile Logistics in Spain

16 December 2019 – The logistics company XPO Logistics is looking to double its logistics investments in Madrid, Barcelona and Valencia by 2020, targeting last-mile logistics in particular.

In consequence, XPO announced that it would build a new last-mile logistics platform in the Metropolitan Area of ​​Barcelona, ​​in the municipality of Castellbisbal, 30 kilometres from the city. The 13,000-m2 warehouse is in addition to another, 27,000-m2 facility the firm already has in the city.

The firm will build the new facility on a 37,000-k2 plot of land. The new development will have two buildings, 435 m2 and 913 m2, respectively.

Original Story: Eje Prime – Marta Tamayo

Adaptation/Translation: Richard D. K. 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

Galenicum Acquires Warehouse in Barcelona for R&D Division

2 December 2019 – The Catalan pharmaceutical company Galenicum is finalised the acquisition of a new, 5,000-m2 warehouse in Esplugues de Llobregat (Barcelona). The firm plans to invest further in research and development to ensure sustained profitability in the coming years. However, the firm declined to reveal the amount it paid for the asset.

Galenicum is planning to invest a total of 44 million euros in fixed assets during the next few years.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Meridia Takes €83.5-Million Loan to Build Project in Barcelona’s 22@

21 November 2019 – A socimi controlled by Meridia has arranged an up to €83.5-million syndicated loan with CaixaBank and Santander to build the future headquarters of Everis in Barcelona’s 22@ district.

The firm’s real estate vehicle, Meridia III, requested the loan, which will be guaranteed by the plot of land located at Avenida Nova Icària 213, as well any future construction on the site. The loan will last until seven years after the end of construction.

Original Story: Expansión – Marisa Anglés

Adaptation/Translation: Richard D. K. Turner