Roca Junyent Hires Silvia López Jiménez as a Real Estate Partner

The new partner at Roca has worked for several different law firms, in addition to having worked in-house as the Legal Director at various companies, such as Neinor Homes.

The law firm Roca Junyent has hired Silvia López Jiménez as a new partner in the real estate department. In addition to this area of expertise, the lawyer has experience in corporate governance, risk management and regulatory compliance in the international environment.

With her appointment to advise both domestic and international clients, the real estate department is strengthening and consolidating its position as one of Roca Junyent’s divisions with the greatest potential for growth in Madrid. The firm also has three partners in its real estate division in Barcelona.

UBS Acquires 2 Office Buildings For €89M

24 October 2016 – Expansión

The real estate division of UBS has expanded its real estate portfolio in Spain once again. The fund has completed the purchase of two buildings in Spain, for a total investment of €89 million.

In Madrid, UBS Asset Management’s Global Real Estate firm (GRE) has acquired an office building, with a leasable surface area of 13,195 m2, spread over five floors and with 417 parking spaces, located on Calle José Echegaray, in the Las Rozas business park. The operation, closed on behalf of one of the Swiss entity’s clients, amounted to €36.5 million.

The property is leased in its entirety to five tenants, including Altamira Asset Management (the real estate division, controlled by the investment fund Apollom that manages Santander’s assets), Avantcard, Finanmadrid and the marketing agency Anekis.

In addition, UBS has purchased the headquarters of Roca Junyent in Barcelona. The property, located close to Avenida Diagonal, contains 11,219 m2 of office space, 39 parking spaces and another 1,000 m2 of storage space.

UBS has purchased that building for €52.5 million for its UBS Diamond Eurozone Offices fund. “The property is in keeping with the fund’s strategy, which looks for basic and advanced investment opportunities, particularly new or recently renovated offices, with high occupancy rates to ensure long term rental income, located in premium sites in the Eurozone’s largest ten to fifteen cities”, say sources at the Swiss bank.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

The Lara Family Sells Roca Junyent’s HQ For €55M+

3 October 2016 – Expansión

The Lara family, owner of Planeta, has sold the historical headquarters of Roca Junyent on Calle Aribau in Barcelona for more than €55 million. The buyer, a real estate fund linked to the Swiss bank UBS, will maintain the long-term lease contract with the law firm Miquel Roca, which occupies eight of the building’s twelve floors. The four remaining floors are leased to the medical centre QMS (Quality Medical Service).

The building has a surface area of 11,000 sqm, of which 8,600 sqm are used offices, 1,360 sqm are used as a commercial space on the ground floor, which is occupied by QMS, and a basement measuring 1,270 sqm.

The Lara family’s real estate company, Inversiones Hemisferio, bought the building from Colonial in 2007, just before the burst of the real estate bubble for €55 million and it has now sold it for a slightly higher figure.

This operation confirms that investment prices of buildings in Barcelona have now returned to their pre-crisis levels, driven by a shortage of assets for sale and the priority of large funds to invest in the real estate sector.

Despite the strong international demand to invest in cities such as Barcelona, the volume of investment in the city’s real estate sector is lower so far in 2016 than it was this time last year. In 2015, the Catalan capital broke records, with total investment of €2,000 million. Of that, 85% came from international buyers.

Despite the sluggish first half of 2016, which the sector attributed to the lack of assets for sale and the political uncertainty, the second half of the year has started with more movement in the investment market and all indications are that the final quarter of the year will be very busy in terms of the closure of operations whose negotiations are already being finalised.

Original story: Expansión (by M. Anglés and J. Orihuel)

Translation: Carmel Drake