Hypo Real Estate Bank International has announced that it has provided 36.4 million of development finance to Arlington Barcelona S.L.U. for the construction of the first phase of Viladecans Business Park in Barcelona. The deal closed on 2nd September 2005.
Arlington Barcelona S.L.U. is part of the Arlington European Business Park Fund managed by Arlington Securities, the leading business park investment manager, developer and operator in the UK. The Fund has assets located in Madrid and Paris, as well as Barcelona.
The development is the first of three commercial phases at Viladecans Business Park, which will ultimately extend to over 94,500 m² together with ancillary facilities adjacent to new municipality buildings including new Civic Offices and library.
The initial phase of the development consists of four buildings totalling 32,000 m² of high quality, Grade A office accommodation. Individual floors within the buildings vary between 2,100 to 2,800 m², providing flexible letting combinations. The development is due to be completed in Summer 2007.
Commenting, Harin Thaker, CEO-Europe, said: "We are delighted to continue our successful relationship with Arlington on this project. This underlines our capabilities in using our pan European platform to assist a key UK based client in a continental European transaction, and we look forward to working with Arlington again in the future."
Source: Hypo Real Estate