PATRIZIA buys planned Barcelona office in 22@ district for circa EUR 72m
- Construction for forward purchase acquisition already underway after permit granted
- Expected completion in late 2021
- With this acquisition, PATRIZIA’s portfolio of assets in Spain increases to over EUR 1.3bn
Augsburg / Barcelona, 1 September, 2020.– PATRIZIA AG, a leading partner for global real assets, has forward purchased an office building in Barcelona’s 22@ district at a prime location in one of the city’s most sought-after areas for businesses. Construction for the ca 15,000 sqm Diagrame office building is underway with the building permit already granted. PATRIZIA has purchased the office development from Cain International and its partner FREO Group.
Upon its expected competition in late 2021, the Diagrame office building will be located at the intersection of Pere IV and Badajoz streets with future tenants benefitting from a wide selection of services, public transport, restaurants and shops, as well as easy access to residential areas and the city’s attractions such as the Mar Bella beach.
Diagrame will be built to the highest standards of sustainability and energy efficiency, guaranteeing a LEED Platinum certification, to provide five floors of open-plan office space.
Eduardo de Roda, PATRIZIA Country Manager for Iberia, said: “The 22@ district of Barcelona is one of the largest urban regeneration areas in Europe. There is however still a major shortage of Grade A office stock in that area and the Diagrame building addresses that demand. With this latest transaction, we are further expanding our presence in this highly prized Barcelona business district, where we already have five
assets spanning more than 43,000 sqm.”
With this transaction, PATRIZIA’s office portfolio in Spain is being expanded to more than 85,000 sqm with a value of around EUR 360 million in total. PATRIZIA’s total AuM in Spain increases to over EUR 1.3 billion.
PATRIZIA: A leading partner for global real assets
As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 45 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Children Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag
Phone: +44 7889 995604