Catalonia, Andalusia to divest RE assets worth €950m

This post is also available in: Spanish

Amid belt-tightening measures, Spain’s regional governments are freeing up a large portfolio of real estate assets, with Catalonia and Andalusia selling buildings worth a combined €950m, seeking sale-and-leaseback deals in order to remain as tenants.

Catalonia aims to pocket €550m before the end of the year with the sale of 37 properties, among them the city’s stock market on Paseo de Gracia, one of the most expensive streets for European real estate, and the building housing the agriculture secretariat. Brokers Jones Lang LaSalle and Aguirre Newman are advising the sale.

Andalusia is aiming to pocket €400m with the sale of 76 buildings, including the culture secretariat in Granada and youth centres in Málaga, for which the government will pay up to €30m annually in rent.

For more information on these Spanish office investment transactions please contact i-comparables.com

20 Responses to “Catalonia, Andalusia to divest RE assets worth €950m”

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