Spain’s Catalan Government to sell fifteen buildings for up to €300 million

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Sources in the real estate sector have indicated that the Generalitat de Catalunya is to put up a portfolio of fifteen buildings for sale for which it could obtain up to €300 million.

The privatization of these properties, for which the list has still not been completely finalized, is the first step of the initiative to obtain extraordinary income as reflected in the 2014 Budget where income of €2.3 billion from sales and concessions is expected.

This large portfolio of properties has an area of around 90,000 m2 and basically comprises office buildings, many of them occupied by the Catalan government itself, which would remain as a tenant following a sale and leaseback transaction. Sources from the Ministry of Economy have declined to comment.

The sale is expected to arouse the interest of international investors and real estate funds, although history has shown that these auctions always have tortuous results.

The main point of reference for investors interested in the portfolio is the transaction closed by Axa Real Estate in June 2013, when it acquired 13 buildings for an amount of €172 million. This transaction which amounted to an area of 80,000 m2 of above ground accomodation provided a guaranteed return of 10%.

For detailled information about investment and corporate sales transactions in Spain and office rental transactions in Madrid and Barcelona contact: i-comparables.com

11 Responses to “Spain’s Catalan Government to sell fifteen buildings for up to €300 million”

  1. rodney says:

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    áëàãîäàðþ….

  2. Lonnie says:

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    ñýíêñ çà èíôó….

  3. jeremy says:

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    good info!…

  4. alberto says:

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    thank you!!…

  5. bradley says:

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    thanks for information!…

  6. Brent says:

    .

    ñýíêñ çà èíôó….

  7. cory says:

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    ñïàñèáî….

  8. Micheal says:

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    áëàãîäàðþ!!…