Patrizia gathers funds to make purchases in Spain

Patrizia gathers funds to make purchases in Spain

The MunchenerHyp company has granted the German manager Patrizia AG two loans for a combined amount of 56 million euros for the purchase of a residential building in Barcelona and a logistics asset in the Madrid metropolitan area. Each of the loans has a term of ten years.

Specifically, the financing of the residential property in Barcelona amounts to 16.75 million euros and is carried out on behalf of the Barmenia real estate fund. The newly constructed building includes 59 homes and has about 5,150 sqm of living space and a restaurant, according to a report by Europe Real Estate.

The asset is located in the 22@ district, which is currently being developed by the city of Barcelona as the new ‘Smart City Campus’ and is one of the areas with the greatest potential in Barcelona. The residential complex has been certified as "very good" according to BREEAM sustainability standards.

On the other hand, the second loan amounts to 39.2 million euros and will go towards the acquisition of a new Amazon logistics center in Alcalá de Henares for a pan-European Patrizia fund. The 75,000-sqm warehouse is located in the El Encín industrial area, just 30 kms away from the center of the capital.

This asset, which opened its doors in October, became the second logistics center of the American company in the Community of Madrid. The lease with Amazon lasts for 15 years.

Patrizia sold the Amazon center at the end of 2020 to a fund of its own for 110 million. The asset was acquired by the German manager in 2019, within the pan-European operation baptized as Mercury in which she acquired 42 properties from GreenOak for 1,200 million euros.

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