Direct investment in real estate in Spain closes January above €800M

Direct investment in real estate in Spain closes January above €800M


The most outstanding operations in the first month of the year were the sale of Inditex's local portfolio with the German fund Deka, for €370 million, the sale of 4 platforms of Grupo Dia to Blackstone, 3 of them located in Spain, the sale of the Berceo shopping center in Logroño to a British investment fund, for a volume above the €100 million, and the purchase of Colonial from the "Egeo" office building in the Campo de las Naciones, for a volume of €79 million.

Equally notable is the purchase by Colonial of 110,000 m² of land for €185 million in Méndez Álvaro (Madrid), where it will build two large office complexes, a project that will involve a global investment of €355 million. This operation is not included in the direct investment in assets in productivity, but conveys full confidence in the market in the short-medium and long-term.

Luis Nuño, director of Investment Offices of BNP Paribas Real Estate, says that "the favorable macro-economic forecasts, a market in clear positive trend, with a very good behavior of fundamentals, both in occupation and price levels, abundance of capital and the need for investment, allow to face the year with optimism in the sector".

In addition to traditionally attractive markets for investors, such as offices and retail, it is appreciating how other markets are growing substantially: hotels, motivated by excellent behavior of the tourism sector; alternative investments (student and seniors residences, clinics, etc.); the logistics sector, encouraged by the expansion of e-commerce, with needs for new facilities and exponential growth in demand and, of course, the residential, driven by the return of the promoter activity, the decline in the sales deadlines and the boom in the rental market, which is becoming more professional in recent months with the entry of new players and the flotation of the main promoters.

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