IBA Capital negotiates acquisition of office complex in Gloriès from Blackstone

IBA Capital negotiates acquisition of office complex in Gloriès from Blackstone

The American firm Blackstone is discussing the sale of its Glòries office complex in Barcelona. The investment fund is negotiating the operation exclusively with the real estate manager IBA Capital Partners, according to Expansión.

The complex is located above the Barcelona Glòries shopping center, owned by Unibail-Rodamco-Westfield, in front of the Torre Glòries (formerly Torre Agbar). The Glòries complex has three buildings, with a combined surface area of ​​more than 21,500 sqm. These buildings are distributed between Ciutat de Granada street, Diagonal avenue and Gran Vía.

Last year, the investment fund Blackstone hired the consultancies Savills Aguirre Newman and CBRE for the sale of this complex, valued at around 120 million euros.

IBA Capital's portfolio

If this transaction is closed, IBA Capital will strengthen its position in the office market in Barcelona. IBA Capital manages assets worth approximately 1,500 million euros. Led by Thierry Julienne and Jesús Valderrama, IBA Capital is the manager, in turn, of Socimi Zambal.

Among Zambal's most important operations, the purchase of its headquarters located on Avenida de San Luis in Madrid from Gas Natural in 2016 for 120 million euros stands out. In Barcelona, ​​the Socimi transferred in 2019 a property located in Plaza Cataluña, right on the corner with Las Ramblas, to a group of investors led by Bankinter. In addition, IBA Capital also owns the Nodo building.

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