Fiatc Buys Former HQ Of Naturgas From BBVA

28 June 2016 – Expansión

The insurance group Fiatc has expanded its real estate portfolio with an operation in Bilbao. The Catalan company has purchased the Nervión building, located next to the Guggenheim Museum, in the Plaza Pío Baroja, from BBVA Seguros. The property, which used to house the headquarters of Gas de Euskadi and Naturgas, has a surface area of 6,296 sqm and 66 parking spaces.

In April, BBVA relocated around 350 employees to the building. The banking group will continue to occupy the property under a lease contract.

The operation, whose price has not been revealed, has been brokered by the consultancy firm JLL. With this acquisition, Fiatc increases the market value of its real estate portfolio to €250 million. Most of the buildings in its portfolio comprise its own offices and branches, such as its headquarters on La Diagonal in Barcelona.

Original story: Expansión (by J.O.)

Translation: Carmel Drake