Resource Capital Partners has advised an investor on the purchase of a trophy office building located in Plaza Cataluna 5, Barcelona in an off-market transaction.
Deka Immobilien GmbH has sold an office property in Barcelona which was originally acquired in a sale and lease-back transaction in 2009. The property forms part of the real estate portfolio of open-ended mutual property fund Deka-ImmobilienGlobal.
The long-term tenant is Spain's second largest bank, BBVA S.A. The building is located in the city center at Plaza de Cataluna 5, one of the most famous squares in the Catalan metropolis. Built in 1890, the striking architecture of the historic building dominates the square. It has a total lettable area of around 14,000 m², developed over 13 floors, and is situated in one of the city's established office and retail districts.
This is the second off-market transaction for Resource Capital Partners, few days after the acquisition of the Parisian buildings located at 7&9 Avenue de Messine, structured on behalf of Generali/NBIM et Metroinvest.