Commerz Real has acquired two office schemes in Barcelona from Conren Tramway for c.€130m. The buildings which will comprise 13,900m² and 9,300m² will be developed by Conren Land. Completion of the building, which was designed by the Spanish architect Enric Batlle, is scheduled for the beginning of 2022. The transaction was structured as an asset deal in the form of a forward purchase.
The scheme is easily accessible by private and public transport, with the nearest metro station, Llacuna, being about four-minutes-walk away. In addition, the building will have 128 parking spaces for cars and 253 spaces for motorcycles, as well as 210 bicycle stands. It is intended that the scheme attain classification with the LEED sustainability certificate in gold.
“The positive development of the Spanish economy and the very good future outlook mean that investments are once again of interest for us,” said Henning Koch, Global Head of Transactions at Commerz Real. “Regardless of the discussion about the political future of Catalonia we are convinced that Barcelona is an extremely attractive and dynamic office market.”