GreenOak sells €74M assets in Spain

GreenOak sells €74M assets in Spain


According to EjePrime, the 5 assets were part of Gore Spain Holdings’ portfolio, GreenOak’s REIT listed at MAB since January 2017.

GreenOak formalized the sale of 100% of the company Inversiones Pukaki, through which it controlled 4 buildings at Parque Empresaraial Avalon, which Barings bought for 57.8 million euro, estimated in December 2017 at 47.2 million euro and bought from Banco Santander for around 40 million euro.

The deal also includes another asset from Gore Spain Holdings in number 7 at Avenida Bruselas in Madrid, for 16.5 million euro, inferior to the estimation of 18.26 million euro made at the end of 2017.


Barings is now the sole owner of Avalon centre

With this deal, Barings is now the Parque Avalon's sole proprietor.

Last August Barings had already acquired 5 buildings within the centre from Meridia Capital.

In a press release, Adolfo Favieres, CEO of Barings España, comments that «now that we are sole owners of Avalon Park we have an ambitious plan to position the property as the market reference for this asset class in Spain, through selective capital expenditure and providing services to occupiers. Simultaneously, we continue to expand our portfolio strategy of investing in Core+ to Opportunistic investments across target locations in Europe». 

Savills was hired to market the business park, and Cushman & Wakefield is in charge of its management.




Photo: EjePrime

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