2 office buildings from GreenOak are on the market for €60M

2 office buildings from GreenOak are on the market for €60M

The 19.844 sqm Vallsolana Business Park is located at San Cugat del Vallés and offers 248 parking spots and the 9.568 sqm Esplugues 255 building is located at Cornellá de Llobregat, according to El Economista.

Sources advanced to the same newspaper that there are already several investors interested in these assets and they further revealed that this future operation should be advised by consultant CBRE on behalf of GreenOak.

The assets’ yields will be a plus when the time comes for their sale. According to the same newspaper, the Vallsolana Business Park has an 87.5% occupancy rate (data from 2018) and amongst its tenants are B&R Automation Ibéria and Win Systems. The Esplugues 255 building has Servihabitat has its main tenant (occupying 5.940 sqm).

Both buildings have been part of GreenOak’s REITs’ portfolios for several years. The first building’s acquisition was carried out by GreenOak’s REIT Spain Holdings in an operation finalised in 2017 for which it paid 26.6 million euro to UBS Real Estate. The second building is part of Gore Spain Holding Socimi’s portfolio and was acquired 5 years ago.

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