Starwood Capital Group, advised by Dentons, has acquired a portfolio of office buildings in Spain from US firm Oaktree Capital Management and German real estate management company Freo. The portfolio includes five office buildings, three of which are located in the city of Madrid, one in Barcelona and one in Alcobendas (Madrid), and has a total combined area of 78,428m² and 1,323 parking spaces. Major tenants include BBVA, Air France and Indra. The purchase price was not disclosed.
“The Spanish office market is maintaining good momentum with investors’ continued strong interest in assets in Madrid and Barcelona in particular, but more and more often also in secondary locations. We were happy to assist Starwood in tapping into this trend,” said Jesus Varela, Spain Managing Partner and Head of Real Estate in Spain.
