Investment in offices reaches €1.150 million in Spain

The newest report of Aguirre Newman points out that during the first semester of 2017, the volume of office investment has surpassed the €1.150M in the two core markets, Madrid and Barcelona. It has also been carried out investment transactions in secondary markets as Valencia, Malaga, Sevilla and Granada.

The investment volume reached during the first semester of 2017 was split almost evenly between Madrid and Barcelona. This is an unusual situation representing Barcelona market, in the last semesters, with 30% of the total volume facing the 70% represented by Madrid. The investment activity in the market of Barcelona has reached, in the period under consideration, its higher level from the last 10 years.

The report prepared by the consultant note that the number of transactions made has slightly decreased when compared to the same period from the last two years. In fact, in the last six months there were 26 investment transaction, representing the sale of 37 offices buildings and a business park. The most representative were the acquisition made by Merlin Properties of Torre Agbar, renamed as Torre Glories, in Barcelona; the sale by BBVA of the Portfolio Boston consisting in 14 buildings, eight of them located in Barcelona, five in Madrid and one in Malaga, and the purchase by Tristan Capital and Zaphir Asset Management of the building complex Isla Chamartin, located at Calle Manoteras 20, in Madrid.Read the full article here...

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