HIG Capital Acquires Two Office Buildings in La Florida, Madrid

21 September 2019 – The US venture capital fund HIG Capital has finalised the acquisition of two office buildings in the neighbourhood of La Florida, in north-western Madrid. The two buildings have a total surface area of 15,000 m2. The previous owner recently refurbished one of the properties, while HIG plans to renovate the second to attract high-quality, long-term tenants.

Based in Miami, HIG Capital has AUMs of €34 billion.

Original Story: Expansión – Rocío Ruiz

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

Axa Sells Eight Buildings in Barcelona to Germany’s KanAm Grund for €100 Million

14 July 2019

A major German investment fund, KanAm Grund, has acquired eight buildings in Barcelona, in a deal reportedly worth 100 million euros. All are currently leased to the Catalonian government.

The seller, the French investment giant Axa IMRA, originally acquired the assets, together with another five buildings, from the Catalonian government in 2013 for €172 million. At the time, Spain was still mired in the real estate and financial crisis and the sale had been the cash-strapped administration’s second attempt to offload the assets. As part of the agreement, the Catalonian government agreed to remain in the properties for twenty years.

The buildings included in the deal consist of the Conselleria de Justícia, on Calle Pau Claris; the Citizen Service Office on Calle Carrera; the General Subdirectorate for Initial Employment Authorizations, on Calle Puig i Xoriguer and the headquarters of the Institut Català de les Dones (ICD), on Plaza Pere Coromines. The remaining buildings include the headquarters of the Institut Obert de Catalunya, on Avenida Parallel, the Territorial Judicial Archive of Barcelona, on Calle Roger de Flor, the headquarters of the General Directorate for Language Policy, on the Portal de Santa Madrona and the Employment Office on Calle Doctor Joaquim Pou.

Axa retained five of the larger assets in the portfolio: the offices of the Conselleria de Justícia and the headquarters of the Agència de l’Habitatge de Catalunya, both on Calle Aragón; the Conselleria de Enseñanza, on Via Augusta, and the Ministry of Agriculture, Livestock, Fisheries, Food and Natural Environment, on the Gran Vía, among others.

Original Story: El Confidencial – E. Sanz / M. Lamelas

Adaptation/Translation: Richard D. K. Turner