HausInvest Returns to Spanish Real Estate Market

6 January 2020 – Real Assets IPE

Commerz Real’s €15.5bn HausInvest fund has returned to the Spanish real estate market after more than 14 years.

The German property fund is purchasing two office development projects in Barcelona off-plan for €130m from developer Conren Tramway.

It is the first time the fund has invested in Spain since it acquired the Espai Gironés shopping centre near Girona in 2005.

The two office buildings, which will be built on Carrer de Badajoz in Barcelona, will provide 13,900sqm and 9,300sqm of space, respectively.

Original story: Real Assets IPE

Edited by /Summary: Carmel Drake

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