British fund management company BMO Real Estate Partners is finishing the acquisition of building Portal de l’Àngel 9-11 for more than 80 million euro, according to several sources within the segment. BMO will use fund Best Value Europe II, to acquire the Portal de l’Àngel 9-11 building. The office building is occupied mainly by Swedish fashion company H&M, which has its Spanish headquarters installed there. The building, owned by a family group connected to the Casa Riera marquisate, has two tenants, H&M and Disney.
Fund Best Value Europe II is specialised in retail and invests in the main European cities. Launched two years ago, the fund’s goal is to create a portfolio worth up to 1 billion euro. Besides this building in Barcelona, the Best Value Europe II fund already has other premium assets in Madrid, Paris, Verona and Lisbon, among other cities.
This is not the first time BMO Real Estate Partners invests in Barcelona. At the beginning of 2019, using the first investment vehicle, Best Value Europe I, it acquired an asset at Plaza Cataluña, from Bankia for 28 million euro, which is now occupied by Huawei.