Just three years. The current headquarters of Generalitat de Catalunya Justice, located at Calle de Pau Claris 158-160 and sold to British manager Franklin Real Estate Advisors, has remained in a portfolio of funds of German manager KanAm for this long. this the operation would close between 30 and 35m eurosAs EL PERIÓDICO DE ESPAÑA has learned, it is a newspaper and this media that is part of the Prensa Ibérica group. Process out of market It was recommended by Savills, although KPMG and the law firm of Pérez-Llorca were also involved.
This asset is part of the Pentagon portfolio of office buildings leased from Generalitat, which KanAm acquired from Axa in 2019 and 2021. in 2013, real estate division of insurance company bought 13 properties for 172 million from Generalitat de Catalunya. Presidential Minister and Government Spokesperson Francesc Homs, in his corporate statement after the closure of the transaction, pointed out that this operation is a response to the extraordinary situation experienced by the Administration after the bursting of the real estate bubble. . Classified as a transaction sale and leasebackThe administration stays on the lease for the next 20 years and pays rent of 16.26 million euros per year.
Six years later, Axa opened the door to transfer the portfolio and closed the sale of 8 properties to KanAm for approximately 100 million. In 2021, the German fund bought the remaining five buildings for 280 million. Total, KanAm paid 380 million euros for a portfolio acquired by Axa for 172 in 2013.. Now, three years after the first batch was purchased, and after the second batch, the German fund has begun to reclaim its positions in the Catalan capital. In this case, there was no organized process with several candidates, but the buyer who negotiated directly with the seller. The fund involved in the sale, KanAm Grund Group Leanding Cities Invest, owns five properties in Barcelona: three in the L’Eixample district and two in the Gothic Quarter, all leased to the Generalitat de Catalunya. After closing this sale, Spain’s weight in the investment vehicle becomes 15%.
The property for sale totals 6,200 square meters, just one street from Paseo de Gracia and very close to Casa Milá.. According to sources from the real estate sector, the selling price is within the market. The contract with the highest government body in Catalonia, in force until 2033, justifies a slight surcharge for the operation. According to Brainsre, the average cost per square meter in the region is €4,250, with Franklin RE Advisor paying between €4,838 and €5,645 per square metre.
22@ monopolizes the office market
In the last two years, The 22@ district monopolizes most of the real estate news related to the office market in Barcelona. The site was designed in 2000 to transform 200 hectares of industrial land in the Pueblo Nuevo district into a modern space for business innovation. Since 2015, this region has attracted 3,532 million euros worth of investment. This represents 86% of the investment recorded in the entire Barcelona office market. Some of the famous assets located in the area are the Gloriés Tower, owned by Spanish society Merlin Properties, and the Gloriès Shopping Center, owned by URW, the firm that has such an asset.
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